{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Derivatives use for hedging and efficient portfolio management",
            "Currency Hedging",
            "Securities Lending"
        ],
        "classification": "complex",
        "supporting_data": "This UCITS ETF aims to track the FTSE World Government Bond Index hedged to USD, using physical replication. While it primarily invests in government bonds which are generally considered non-complex, it uses derivatives for hedging and efficient portfolio management. The ETF may also engage in securities lending. Currency hedging, although a common practice, introduces an additional layer of complexity for retail investors to understand. The ETF invests in bonds issued by governments, government-related entities and supranational entities based in developed and emerging markets. The fund utilises an investment technique called optimisation. Securities lending up to 30% introduces counterparty risk. Because the ETF uses derivatives, it is classified as complex, even if it is only used for efficient portfolio management."
    }
}