{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "USD denominated investment grade corporate bonds",
            "Fixed maturity date",
            "Sampling techniques in index selection",
            "ESG related exclusionary criteria"
        ],
        "classification": "non-complex",
        "supporting_data": "This UCITS ETF, the Invesco BulletShares 2030 USD Corporate Bond UCITS ETF, is categorized as non-complex under MiFID II. It is a passively-managed ETF that aims to replicate the performance of an investment grade corporate bond index. The ETF uses physical replication via sampling techniques to hold securities and track the index. While it utilizes derivative instruments, they are employed for risk management purposes and not as an integral part of the investment strategy. The ETF is focused on tracking an index of USD-denominated investment grade corporate bonds with a fixed maturity in 2030. The index applies ESG related exclusionary criteria. The structure and risks of this ETF are straightforward for retail investors with basic knowledge to understand. This is a bond based ETF, and as per CESR document, a well structured debt based fund will be classified as non-complex."
    }
}