{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "ESG Criteria Complexity"
        ],
        "classification": "non-complex",
        "supporting_data": "The ETF aims to reflect the performance of the MSCI World High Dividend Yield Low Carbon SRI Screened Select Index. It is passively managed and uses physical replication by buying all or a substantial number of the securities in the index. While it mentions the possibility of using derivatives for risk management, cost reduction, or performance improvement, the primary replication method is physical. The index has ESG and dividend yield criteria, which add layers of complexity to the index methodology itself. However, the ETF's structure is physical replication of a stated index, which is generally considered non-complex. The risk profile is rated 6 out of 7, indicating high volatility, but this relates to market risk and not structural complexity. The KID indicates that the fund distributes income and allows daily redemption, which are standard ETF features. The use of ESG criteria, while adding complexity to the index selection, does not inherently make the ETF itself a complex financial product under MiFID II as it is primarily holding underlying securities. The key factor for complexity under MiFID II often relates to the use of derivatives for replication, leverage, or embedded derivatives, none of which are the primary strategy here."
    }
}