{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": [
            "Synthetic Replication",
            "Use of US Treasury futures contracts",
            "Derivatives"
        ],
        "classification": "complex",
        "supporting_data": "The ETF seeks to track an index that uses US Treasury futures contracts to gain synthetic exposure to bonds. This synthetic replication, combined with the use of futures, introduces counterparty and collateral risk, leading to a complex classification. Although the ETF is UCITS compliant, the use of futures contracts to replicate bond exposure means the ETF relies on derivatives to achieve its investment objective, making it complex for retail investors to easily understand the risks and performance. The index rebalances quarterly and has roughly 10% exposure to cash, which serves as collateral for the US Treasury futures contracts, which again does not change that this is a derivative investment."
    }
}