{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "ESG exclusionary criteria impacting universe"
        ],
        "classification": "non-complex",
        "supporting_data": "The iShares Agribusiness UCITS ETF USD (Acc) aims to replicate the S&P Commodity Producers Agribusiness Index by investing in equity securities. The KIID states that the fund is passively managed and invests in equity securities that make up the index. This indicates a physical replication strategy, which is generally considered non-complex. The index methodology involves ESG exclusionary criteria, which is a factor, but not enough to classify the ETF as complex by itself. The ETF does not mention the use of derivatives for replication purposes, nor does it mention leverage or embedded derivatives. Securities lending is mentioned as a way to generate additional income, which is a common practice for UCITS ETFs and does not typically render them complex unless it significantly alters the risk profile or opacity. The risks highlighted (market volatility) are standard for equity ETFs and do not point to structural complexity. Based on the information provided, the ETF tracks a publicly available index using physical replication, and does not appear to utilize complex derivative strategies or structures. Therefore, it is presumed to be non-complex."
    }
}