{
    "success": true,
    "data": {
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "Complex Index",
            "Emerging Markets Risk",
            "Country Risk (China)"
        ],
        "classification": "non-complex",
        "supporting_data": "The ETF tracks the MSCI ACWI IMI Next Generation Internet Innovation Select Screened 100 Index. While the index has a global scope and includes emerging markets (specifically mentioning China with associated risks), the core replication method is physical (buying securities in the index). The KIID states 'The fund is passively managed' and aims to 'track the performance... by buying all or a substantial number of the securities in the index.' It notes that the fund 'may employ techniques and instruments in order to manage risk, reduce costs and improve results. These techniques and instruments may include the use of financial contracts (derivatives)' and 'secured lending of its investments'. However, the primary investment policy is physical replication. Crucially, the document does not indicate that derivatives are integral to achieving the investment objective, nor does it mention leverage, embedded derivatives, or structured products. The risks mentioned such as country risk and emerging markets risk, while present, do not inherently make the ETF's structure complex according to MiFID II criteria, which focus on the understandability of the instrument's mechanics. The presence of ESG screening is also not a factor for complexity classification. The ongoing charges are 0.30%, which is standard. Given the physical replication, lack of explicit derivative use as a core strategy, and absence of other complex features like embedded options or leverage, it falls under the presumption of non-complex for UCITS ETFs. The complexity of the index itself, while noted, does not automatically classify the ETF as complex if its replication method is straightforward and understandable."
    }
}