{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "ESG Exclusionary criteria introduces index construction complexity",
        "classification": "non-complex",
        "supporting_data": "The ETF is UCITS compliant and uses physical replication to track the NASDAQ-100 ESG index.  Derivatives may be used for managing risk, reducing costs or generating additional capital or income - suggesting derivatives use is not integral to the investment strategy.  It holds underlying securities and is not leveraged. The complexity arises from the use of ESG exclusionary criteria and sustainability related disclosures which, while enhancing sustainability, introduce a level of sophistication into the index construction process that goes beyond a simple market-cap weighted index. Companies are evaluated and weighted on the basis of their business activities, controversies and ESG risk ratings. However the use of derivative instruments for managing risk rather than as an inherent element of the strategy makes it non-complex. The risk rating is 6/7 and the KIID does not include a comprehension alert.",
        "complex": false,
        "non-complex": true,
        "explanation": "The UCITS ETF utilizes physical replication to track the NASDAQ-100 ESG index and its KID does not require a comprehension alert."
    }
}