{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": false,
        "type": "ETC",
        "complex_factors": "The asset, an ETC, is backed by physical palladium. The price of palladium can be influenced by factors such as interest rates, exchange rate fluctuations, inflation, and industrial activity, making the product subject to market risk. The risk indicator is 6/7 which is 'the second-highest' risk class. The Key Information Document states 'the performance of the certificates is driven by changes in the price of palladium'.",
        "classification": "non-complex",
        "supporting_data": "This Invesco Physical Palladium ETC is classified as non-complex. Although there is market risk associated with the underlying commodity, the ETC is backed by physical palladium, not synthetic replication, and does not employ derivatives beyond those, if any, used for efficient portfolio management. The KIDs also indicates that the risks associated with this type of asset are relatively easily understood by a retail investor. There is no significant leverage. The primary risk comes from palladium price volatility. The structure, risks, and payoff are likely straightforward for investors with basic knowledge and this asset meets the standards for a non-complex classification."
    }
}