{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The iShares MSCI Mexico Capped UCITS ETF (Acc) is a UCITS ETF that aims to replicate the performance of the MSCI Mexico Capped Index Net USD. It uses physical replication, holding the equity securities in similar proportions to the index. The KID document states the fund may engage in short-term secured lending to generate additional income. While the fund may use financial derivative instruments (FDIs) for direct investment purposes, they are not central to the strategy. The fund's structure and risks are straightforward and easily understood by retail investors. No significant leverage is used. Securities lending does not dominate the risk profile. The underlying index is transparent. The risk profile is a 7 on the KID scale, reflecting market volatility, not structural complexity. The fund's objectives, investment policy, and replication method are clearly outlined, supporting a non-complex classification. ESMA Guidelines support physical replication strategy and the fund only intends to replicate the index by holding the equity securities which make up the Index, in similar proportions to it therefore it qualifies as non-complex asset. The fund qualifies for Execution Only and is not required to carry out an assessment of appropriateness. The fund is also listed on one or more stock exchanges and may be traded in currencies other than their base currency, and it is suitable for medium to long-term investment."
    }
}