{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "leverage": false,
        "inverse": false,
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The ETF aims to replicate the MSCI USA Value Advanced Select Index using physical replication, holding the underlying equity securities. The investment policy is passive and aims to mirror the index performance. The ETF is a UCITS, which is presumed non-complex. The KIID does not indicate the use of derivatives for replication or investment objectives. Securities lending is used to generate income, but it is a secondary feature and is subject to collateral requirements, which generally does not make an ETF complex. The underlying index focuses on the value factor within US equities and includes ESG optimization and exclusions, which are features of the index methodology but do not inherently make the ETF structure complex for a retail investor to understand. The risks mentioned (equity market movements, factor focus sensitivity, ESG screening impact) relate to market risk and diversification, not structural complexity. Therefore, the ETF is classified as non-complex."
    }
}