{
    "success": true,
    "data": {
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The ETF aims to track the Solactive Wind Energy v2 Index, which focuses on companies in the wind energy sector. The investment policy states that the Fund uses physical replication, meaning it holds the underlying securities of the index.  There is no mention of derivatives being used for replication or investment objectives. The KIID indicates a risk category of 6 out of 7, but this reflects market volatility, not structural complexity. The index itself is described as designed to provide exposure to companies positioned to benefit from advances in wind energy, which implies a straightforward thematic focus rather than complex underlying instruments.  The KIID does not indicate any embedded derivatives, leverage, or other features that would typically render a UCITS ETF complex under MiFID II. The assessment is based on the presumption of non-complexity for UCITS ETFs, with no features identified that would overturn this presumption."
    }
}