{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "complex_factors": [
            "Swaps",
            "Synthetic Replication",
            "Index Optimization"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant, and tracks the STOXX Europe 600 Optimised Media Index. The ETF uses unfunded swaps to achieve its objective, which introduces counterparty risk and reliance on the swap provider for index performance.  It uses synthetic replication, because derivatives (swaps) are integral to achieving the investment objective making it hard for the retail client to understand. The index methodology uses a liquidity cap based on average daily turnover, potentially adding complexity. According to the European Regulator any Swap usage means this would be deemed complex even if the asset itself has a low risk profile."
    }
}