{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "ESG characteristics of the benchmark index",
            "Paris Agreement alignment of the benchmark index"
        ],
        "classification": "non-complex",
        "supporting_data": "The Fidelity USD Corp Bond Research Enhanced PAB UCITS ETF aims to align with the Paris Agreement and invests primarily in USD denominated investment grade corporate debt. It references the Solactive USD Corporate IG PAB Index, which incorporates ESG characteristics and aims to align with climate targets. The fund uses a combination of quantitative, fundamental, and sustainability research. The document explicitly states that the fund may use derivatives for efficient portfolio management and currency hedging purposes, which aligns with the non-complex classification for UCITS ETFs as per MiFID II rules. The key information document does not indicate any synthetic replication, embedded derivatives, significant leverage, or other complex structures that would typically lead to a complex classification. The risk category of 4 (out of 7) is attributed to moderate fluctuations in value, not structural complexity. The fund is UCITS compliant, which is a strong indicator of being non-complex under MiFID II guidelines."
    }
}