{
    "success": true,
    "data": {
        "complex": false,
        "leverage": false,
        "derivates": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "synthethic",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "Covered Call Options Strategy Risk",
            "Derivatives Risk"
        ],
        "classification": "complex",
        "supporting_data": "The ETF, REX Tech Innovation Income & Growth UCITS ETF, employs an active management investment approach, aiming to achieve capital appreciation and income generation through exposure to a portfolio of equities from the technology sector and income through associated dividends and option premiums. The strategy involves investing in equities of listed technology companies constituting the Solactive FANG Innovation Index and implementing option strategies on certain underlying securities.  The document explicitly mentions the use of covered call option strategies, which introduces derivative risk.  The ETF also employs an active management investment approach, stating that the investment manager has discretion to select investments.  These features, particularly the use of option strategies on underlying securities, signify a strategy involving derivatives. While the document doesn't explicitly state synthetic replication, the usage of derivatives to generate additional income is a significant indication of a complex structure. This reliance on derivatives to pursue a specific investment objective, like generating income and capital appreciation, surpasses simple portfolio management; thereby making the ETF complex under MiFID II rules.  The document also mentions other risks such as sector concentration risk, liquidity risk, and currency risk, which may make the product less suitable for retail investors. The risk indicator is categorized as '7', which suggests higher risk and complex investment features."
    }
}