{
    "success": true,
    "data": {
        "complex": false,
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "No significant leverage",
            "No embedded derivatives",
            "Transparent index"
        ],
        "classification": "non-complex",
        "supporting_data": "The iShares MSCI EM UCITS ETF USD (Acc) tracks the MSCI Emerging Markets Index by holding the underlying equity securities.  This is a standard physical replication strategy.  While the fund mentions using financial derivative instruments for direct investment purposes, and also securities lending, these are described as secondary features used for portfolio management. The use of derivatives is not central to the fund's investment objective of replicating the index's performance. The fund's structure, risks, and payoff are described as straightforward and easily understood by retail investors with basic knowledge.  There is no indication of complexity in the underlying index, nor are there any complex features like significant leverage, capital protection guarantees, or contingent convertibles.  The overall description points to a standard UCITS ETF with a low complexity profile."
    }
}