{
    "success": true,
    "data": {
        "complex": false,
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "No significant leverage.",
            "No embedded derivatives.",
            "Replication method is physical, tracking a transparent index.",
            "No indications of contingent convertible bonds or other complex structures."
        ],
        "classification": "non-complex",
        "supporting_data": "The iShares AI Adopters & Applications UCITS ETF aims to replicate the STOXX Global AI Adopters and Applications Index by holding the underlying equity securities in similar proportions.  The replication method is explicitly stated as physical.  There's no mention of derivatives being integral to the investment strategy, other than for potential use in portfolio management, which would not automatically trigger complexity if the impact is negligible.  There's no mention of leverage or complex bond holdings, or any features that would make the fund's structure opaque or require advanced knowledge to understand.  The ETF tracks a well-documented equity index, further supporting a non-complex classification.  Securities lending is mentioned as a secondary feature to offset costs, which, if well-managed, does not automatically make the ETF complex."
    }
}