{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "The ETF uses total return swaps to replicate the index. The fund invests primarily in a portfolio of equity securities and derivatives. Also, the index is designed to provide exposure to companies that are positioned to benefit from further advances in the fields of AgTech and Food Innovation. These companies typically face intense competition and potentially rapid product obsolescence.",
        "classification": "complex",
        "supporting_data": "The Global X AgTech & Food Innovation UCITS ETF (IE000EBFYWX3) is classified as complex. This is because the ETF uses derivatives, specifically total return swaps, for replication. Synthetic replication inherently involves counterparty risk and collateral risk, as the fund's assets do not directly match the index, making it difficult for retail investors with basic knowledge to understand the associated risks. The fund's focus on companies within the AgTech and Food Innovation sectors, known for rapid innovation and competition, adds to the complexity by exposing the ETF to risks not easily understood by all investors. The use of derivatives to replicate the index's performance and the potential for market volatility and counterparty risk in synthetic replication are key factors driving the complex classification. The fund's Key Investor Information Document (KIID) should include a comprehension alert."
    }
}