{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The iShares u20ac Govt Bond 3-5yr UCITS ETF (Dist) is a UCITS-compliant ETF. It aims to track the Bloomberg Barclays Euro Government Bond 5 Year Term Index using optimizing techniques which is essentially physical replication. The KID document states that derivatives are used for direct investment purposes or to generate additional income through securities lending. The ETF does not appear to use leverage. The underlying index tracks Euro-denominated government bonds, a straightforward and transparent index. Securities lending, while present, is a secondary feature managed within UCITS rules and doesn't dominate the risk profile. Therefore, the ETF's structure and risks are straightforward and understandable for retail investors with basic knowledge. The ESMA document specifies that derivatives use is a factor that leads to classification of a 'complex' product. However, the KID information shows that the derivatives use is not central to the objective of the ETF, and rather for risk managment. There is no mention of embedded derivatives or complex strategies, the replication methodology is based on a straight forward index and market volatility, credit risk and liquidity risk are inherent with the ETF. The fact that it is a UCITS ETF also points to a non-complex classification."
    }
}