{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "The ETF tracks the MSCI Europe Climate Paris Aligned Benchmark Select Index. However the fund uses derivative instruments."
        ],
        "classification": "complex",
        "supporting_data": "This UCITS ETF uses physical replication to track the MSCI Europe Climate Paris Aligned Benchmark Select Index. The investment manager may use financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets) to help achieve the Fundu2019s investment objective. FDIs may be used for direct investment purposes. ESMA considers the use of derivatives (FDIs) as a factor when determining if the asset is a complex asset. Further evidence to support this is found in the key investor information document which states the fund uses securities lending. Securities lending is mentioned as a tool used to generate revenue and as such falls under the ESMA guidelines for complex assets.  The fund also invests in equities which fall under a complex asset class. Despite the UCITS nature of the fund and the fact it is a passively managed asset, the use of FDIs means it is classified as complex. The KID document states 'The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic'. This factor also contributes to the overall risk rating of the ETF."
    }
}