{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Index Methodology",
            "Underlying Asset Complexity"
        ],
        "classification": "non-complex",
        "supporting_data": "The Global X Solar UCITS ETF tracks the Solactive Solar v2 Index. While the index focuses on companies in the solar technology sector, the ETF itself uses physical replication, meaning it holds the underlying securities of the index. The KIID indicates no use of leverage or complex derivatives integral to the strategy. The risk category of 7 (highest) reflects market volatility inherent in equity investments, not structural complexity. Although the solar sector can be volatile and subject to regulatory changes, the ETF's structure is straightforward and aims to mirror a publicly available index. The UCITS designation further reinforces the presumption of being non-complex. The KIID does not mention any embedded derivatives or complex investment strategies that would typically lead to a complex classification under MiFID II rules."
    }
}