{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "Corporate Bonds, ESG Compliance",
        "classification": "non-complex",
        "supporting_data": "The ETF is UCITS compliant and tracks a corporate bond index. It uses a representative sampling approach to physical replication and derivatives are not integral to the investment strategy. The index methodology is based on ESG considerations with revenue exclusions. While corporate bonds can have varying levels of complexity, the investment grade rating, and the relatively short duration mentioned in the summary point towards a level of risk suitable for a basic understanding. Therefore the main MiFID II factor is whether retail investors with basic knowledge can understand the fund's structure, risks and payoff. The risks of bond ETFs, such as interest rate risk, bond market illiquidity, default risk should be understandable. It only gains a negligable element of complexity due to ESG factors and it's impact is very low.",
        "complex": false,
        "explanation": "The ETF is UCITS compliant, uses physical replication, and invests in corporate bonds. Derivatives are not integral to the investment strategy. The index it tracks has a transparent methodology. The fund's structure and risks are straightforward for a retail investor with basic knowledge."
    }
}