{
    "success": true,
    "data": {
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "None"
        ],
        "classification": "non-complex",
        "supporting_data": "The asset is classified as non-complex based on the MiFID II framework. It is a UCITS compliant ETF, which establishes a presumption of non-complexity. The replication method is physical (optimized), as the fund aims to invest 'so far as possible and practicable in the fixed income (FI) securities...that make up the Index' using 'optimising techniques'. This method is transparent and straightforward for retail investors to understand. While the KIID states that financial derivative instruments (FDIs) 'may be used for direct investment purposes', this is within the context of optimization techniques, which is consistent with Efficient Portfolio Management (EPM) and is ancillary to the core strategy of holding physical bonds, rather than being the inherent replication strategy itself. The fund does not use swaps for replication. The underlying benchmark, the Bloomberg Barclays Global Aggregate Bond Index, is a broad, transparent index of investment-grade bonds and is not considered complex. The fund does not use leverage, and the securities lending program is a standard, secondary feature managed under UCITS rules that does not in itself trigger a complex classification.",
        "final_assessment": "Non-Complex"
    }
}