{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF tracks a transparent index and uses physical replication. The KID mentions the fund engages in securities lending, introducing counterparty risk, but this is a secondary feature and is well managed, so not a factor for classification. The Index measures the performance of companies in Canada with large and mid-market capitalisation, according to the MSCI size, liquidity and free float criteria. The benchmark is the intellectual property of the index provider. ",
        "classification": "non-complex",
        "supporting_data": "The provided KIID indicates that the iShares MSCI Canada UCITS ETF (Acc) aims to replicate the MSCI Canada Index by holding the equity securities which make up the Index, in similar proportions to it. The fund uses physical replication. It uses financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets) to help achieve the Fundu2019s investment objectives. FDIs may be used for direct investment purposes. Securities lending to generate income is mentioned. The structure and the risks (market volatility, tracking error) are straightforward and easily understood by retail investors with basic knowledge. The document also mentions that the ETF may engage in securities lending. It is suitable for medium to long term investment. Based on the rules, this ETF is likely to be classified as non-complex. The ETF is passively managed and the KID does not mention the use of any complex strategies or derivative instruments. The use of derivatives is for efficient portfolio management. The document also mentions the Fund may also engage in short-term secured lending of its investments to certain eligible third parties to generate additional income to off-set the costs of the Fund. This does not make the ETF complex. Therefore it is non-complex."
    }
}