{
    "success": true,
    "data": {
        "complex": false,
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "No significant leverage or embedded derivatives.",
            "Index (S&P ESG Elite High Yield Dividend Aristocrats) is transparent and well-documented, and the fund tracks this index via physical replication.",
            "Fund explicitly states that it will seek to hold all the shares of the Index, in the same proportions as the Index, so that the portfolio of the Fund will be a near mirror image of the Index. This approach ensures the transparency of the tracking.",
            "Fund does not participate in securities lending."
        ],
        "classification": "non-complex",
        "supporting_data": "The UBS (Irl) ETF plc - S&P USA Dividend Aristocrats ESG Elite UCITS ETF is passively managed and seeks to track the performance of the S&P ESG Elite High Yield Dividend Aristocrats Index (Net Return). The fund uses physical replication, which involves holding the index's underlying securities.  No derivative instruments are used as an integral part of the investment strategy. The fund's management explicitly states that it avoids securities lending to reduce counterparty risk.  The index being tracked is well-documented, and the replication method is straightforward, meeting the criteria for a non-complex ETF under MiFID II. The fact that the fund promotes ESG criteria doesn't automatically trigger complexity."
    }
}