{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF invests in China A Shares, which can be complex due to market regulations and the potential for restrictions like Stock Connect quotas. The use of currency hedging with derivatives introduces complexity and counterparty risk. The index methodology and exclusion criteria may add complexity.",
        "classification": "non-complex",
        "supporting_data": "The iShares MSCI China A UCITS ETF EUR Hedged (Acc) Share Class is a UCITS ETF. It primarily uses physical replication to track the MSCI China A Inclusion Index. While the ETF uses derivatives for currency hedging, this is considered EPM. The underlying index tracks large-cap China A Shares, accessible through Stock Connect. The Key Investor Information Document (KIID) indicates a focus on capital growth and income. There is no mention of any leverage, complex derivative strategies, or opaque underlying assets. While China A Shares can have regulatory complexities, the use of physical replication, the hedging strategy, and the index's focus on large-cap shares accessible via Stock Connect lead to a non-complex classification. Although derivatives are used, they are used for hedging and do not inherently complicate the fund's strategy, falling under the 'derivatives for EPM' rule. The fund has a 6/7 risk rating. There is an explicit warning in the KID regarding the performance and currency differences."
    }
}