{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "The ETF invests in AAA-rated CLOs. The inherent complexity comes from the underlying assets of CLOs: a pool of senior secured loans, broadly syndicated loans, floating rate notes, high yield bonds and subordinated corporate loans. These complex instruments drive the need for a comprehension alert.",
        "classification": "complex",
        "supporting_data": "The Invesco EUR AAA CLO UCITS ETF invests in AAA-rated CLO Debt Securities. CLOs are complex financial instruments composed of senior secured loans, floating rate notes, high yield bonds and corporate loans. The KID document acknowledges this in the 'WARNING' alert at the end of the document, indicating that the product is not simple and may be difficult to understand. The ETF's focus on CLOs and the associated risk of downgrading, defaults, and market sentiment, along with the requirement for a comprehension alert, indicates the asset is complex. The fund is not using derivatives. The fund uses AAA CLOs - the KID and ESMA guidelines suggests that this falls into the complex category."
    }
}