{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "Index composition can be complex for retail investors"
        ],
        "classification": "non-complex",
        "supporting_data": "The iShares Core MSCI Pacific ex-Japan UCITS ETF aims to track the MSCI Pacific ex Japan Index by holding the equity securities that make up the Index. This indicates a physical replication method, which is generally considered non-complex. The KIID does not mention the use of derivatives for investment objectives, and the description of the index focuses on developed market companies in the Pacific region excluding Japan, with large and mid-market capitalization. While the index methodology itself might have nuances, the ETF's approach to replicating it through physical holdings of equities is transparent. The fund also engages in short-term secured lending for income generation, which is a secondary activity and is managed within UCITS rules. The risk indicator is rated six, which reflects market volatility, not structural complexity. Overall, the structure and investment strategy are straightforward and align with the presumption of non-complexity for UCITS ETFs."
    }
}