{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Currency Hedging using FDIs"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant and uses physical replication, which generally supports a non-complex classification. However, the ETF uses Financial Derivative Instruments (FDIs), including FX forward contracts, for currency hedging. This currency hedging, while aiming to reduce exchange rate fluctuations, introduces an element of complexity and the ETF documentation specifically notes that the hedging strategy may not completely eliminate currency risk and may affect the performance of the shares. The presence of derivatives for currency hedging purposes tips the classification to complex.",
        "complex": true,
        "non-complex": false
    }
}