{
    "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 MSCI World EUR Hedged UCITS ETF uses physical replication to track the MSCI World TR Index. It primarily invests in equities and uses FX forward contracts for currency hedging. The KID document states that the fund is suitable for medium to long-term investments and is generally straightforward. There are no mentions of derivatives use beyond efficient portfolio management (hedging), leverage, complex indices or capital protection features.  The use of hedging is explicitly identified and the implication of the ESMA guidance is that the hedging activity is done to reduce risk and therefore should be deemed non-complex per the general principle."
    }
}