{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The Future of Defence UCITS ETF is classified as non-complex. The ETF tracks a rules-based index (EQM Future of Defence Index) of companies in the defence and cyber security sector, and the KID does not indicate any use of derivatives beyond efficient portfolio management (EPM). The replication methodology is 'passive management' and 'indexing', which implies physical replication, holding the actual underlying securities. There is no information in the KID about synthetic replication, significant leverage, or other features (like complex indices) that would render the ETF complex. The risk profile is high (6/7), which indicates market risk but not structural complexity. The index is designed to measure the performance of a global investable universe of publicly listed companies. The fund's structure and investment strategy are relatively straightforward and should be easily understood by retail investors with basic knowledge of the market."
    }
}