{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "ESG/SRI screening of index"
        ],
        "classification": "non-complex",
        "supporting_data": "The ETF aims to replicate the Bloomberg Barclays MSCI Global Aggregate Sustainable and Green Bond SRI Index. It states it is passively managed and aims to invest in fixed income securities that make up the index. The index itself involves ESG/SRI screening, which adds a layer of complexity to the underlying methodology. However, the ETF itself uses physical replication, meaning it holds the underlying securities. The KID indicates that derivatives may be used for 'optimising techniques' to achieve the objective, but this is generally interpreted as for efficient portfolio management rather than as a core part of the strategy, and no specific derivative types that would automatically trigger complexity (like swaps for replication) are mentioned. The underlying assets are bonds, which are generally considered non-complex unless they embed derivatives. Securities lending is mentioned as a way to generate income, which is a common practice for ETFs and does not inherently make them complex if managed within UCITS rules. The risk and reward profile is rated as 4 out of 7, which reflects market risk rather than structural complexity. The use of ESG/SRI screening in the index, while making the index's methodology more nuanced, does not inherently make the ETF's structure or payoff difficult for a retail investor to understand in the context of MiFID II complexity assessment for an ETF. The core strategy is physical replication of a bond index."
    }
}