{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": false,
        "swaps": true,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Total return swaps",
            "Emerging Markets",
            "Index concentration",
            "Securities Lending"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant but can invest up to 10% of its assets in total return swaps. The fund also can invest up to 35% of its assets in securities from a single issuer and may enter into securities lending transactions for up to 30% of its assets. This is an Emerging Market fund with a high level of concentration. While it physically replicates the index it may use derivatives to gain exposure. Although UCITS are generally presumed non-complex, the potential use of swaps, securities lending, emerging market risk and index concentration overrides this presumption. These swaps introduce counterparty risks and a synthetic element even if minimized."
    }
}