{
    "success": true,
    "data": {
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "Currency hedging for share class",
            "Securities Lending"
        ],
        "classification": "non-complex",
        "supporting_data": "The asset is classified as non-complex based on the MiFID II framework. It is a UCITS ETF, which carries a presumption of non-complexity. This presumption is upheld as the fund employs physical replication (sampling) to track a transparent, standard government bond index (Bloomberg Euro Government Select 7-10 Year Index). The core investment strategy is straightforward and does not involve complex mechanisms like swaps or leverage. While the fund does engage in securities lending and uses FX forwards for currency hedging a specific share class, these activities are for ancillary income generation and risk management (Efficient Portfolio Management), respectively. They do not form an integral part of the fund's primary investment objective and are managed within the strict UCITS regulatory framework. The associated risks, such as counterparty risk, are disclosed but are not deemed sufficient to render the product's overall structure and payoff difficult for a retail investor to understand. As per the ESMA guidelines (MiFID II Supervisory briefing ESMA35-36-1640), standard UCITS that are not 'structured UCITS' and do not incorporate a structure that makes them difficult to understand are generally considered non-complex, which applies in this case."
    }
}