{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF uses physical replication, tracks a transparent index, and does not appear to use derivatives or leverage.",
        "classification": "non-complex",
        "supporting_data": "The iShares MSCI Global Semiconductors UCITS ETF is considered non-complex according to MiFID II guidelines. It uses physical replication to track the MSCI ACWI IMI Semiconductors & Semiconductor Equipment ESG Screened Select Capped Index. The provided KID document indicates that the fund aims to hold the equity securities that comprise the index. The fund may use limited derivative instruments for efficient portfolio management purposes but it is expected to be limited. The index is transparent, excludes companies based on their involvement in certain activities or ESG controversies, and should be easily understood by retail investors. The fund's structure and risks are straightforward. There is no leverage, and the risks are related to market volatility and tracking error, which are typical for equity ETFs and do not indicate structural complexity as defined by MiFID II. There is no direct use of derivatives as part of the main investment strategy."
    }
}