{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "Currency Hedging introduces a layer of complexity that retail investors might find difficult to fully understand; Environmental, Social, and Governance (ESG) ratings can make the index difficult to understand",
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant and uses physical replication, which generally points towards a non-complex classification. However, it employs currency hedging and ESG factors, which may make the index and overall investment harder for retail investors to easily grasp. The KIID explicitly states that the fund 'hedged' with the aim of reducing the effect of exchange rate fluctuations between their denominated currency and the Fundu2019s underlying portfolio currencies. FDIs, including FX forward contracts, will be used for currency hedging purposes', which means that derivatives are used. ESG funds often track indices that include proprietary scoring and weighting methodologies for measuring ESG factors, or incorporate exclusionary criteria, which can make the ETF's investment strategy difficult for retail investors to understand."
    }
}