{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Emerging Markets Risk",
            "Geographic Concentration Risk",
            "Bond Connect Risks"
        ],
        "classification": "non-complex",
        "supporting_data": "The fund is a UCITS ETF that physically replicates an index of CNY-denominated fixed-rate bonds issued by the PRC government, government-related banks, and investment-grade PRC local authorities, agencies, and corporate issuers. Derivatives are only used for efficient portfolio management. The ETF has risks associated with emerging markets, currency fluctuations, geographic concentration, and investments in onshore debt securities issued within the PRC through Bond Connect but these are considered market risks rather than structural complexity. The ETF seeks to track the Index as closely as possible while seeking to minimise as far as possible the tracking error between the Sub-Fund's performance and that of the Index. No derivatives are used to achieve the ETFs investment objectives and there are no Contingent Convertible Bonds included so the ETF is non-complex.",
        "additional_considerations": "The fund's investment in Chinese bonds through Bond Connect introduces counterparty risk and regulatory change risk, which could potentially increase its complexity. However, this risk is somewhat mitigated by the ETF's status as a UCITS fund, which is presumed to be non-complex unless it has features that make it difficult for retail investors to understand."
    }
}