{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "Complex Index Methodology",
            "Securities Lending"
        ],
        "classification": "non-complex",
        "supporting_data": "The asset is classified as non-complex based on the MiFID II assessment framework. The primary determinants are its status as a UCITS ETF, which carries a presumption of non-complexity, and its use of physical replication. The KIID states the fund aims to 'hold all the securities in the Index in their respective weightings,' which is a transparent and straightforward replication method. While the fund may use derivatives, their stated purpose is for 'managing risk, reducing costs or generating additional capital or income' (i.e., Efficient Portfolio Management), not for achieving the primary investment objective, which means they are not integral to the strategy. The fund does not use leverage or swaps for replication. The high-risk rating of 6/7 reflects the market volatility of the underlying equities, not structural complexity. While the index has a specific optimisation methodology to align with Paris Agreement goals and the fund engages in securities lending (which introduces counterparty risk), these factors are not sufficient to overturn the non-complex classification, as the core structure remains simple and understandable for a retail investor with basic knowledge."
    }
}