{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "High Yield Bond investment strategy.  The fund's active management and investment in below investment grade corporate debt securities introduces complexity.",
        "classification": "complex",
        "supporting_data": "This UCITS ETF, while tracking a benchmark, invests in high yield bonds, and non-investment grade corporate debt securities. The KID states that the fund's investment strategy is actively managed. This suggests that derivatives may be used for efficient portfolio management, but also that the strategy might involve complex instruments and decisions. The fund invests in instruments that embed derivatives. (ESMA, paragraph 54) and also references the risk and reward profile as a 4/7 on the KID risk scale, the value of debt securities can change significantly depending on economic and interest rate conditions as well as the credit worthiness of the issuer. This is further emphasized by the fact that the investments also may include securities from emerging markets. The fund's strategy relies on actively selecting and managing a portfolio of debt securities, which can include those with embedded derivatives such as credit linked notes and may also include structured instruments that link performance to the performance of a bond index (ESMA, paragraphs 54-55), thereby adding to the fund's complexity. "
    }
}