{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The ETF is UCITS compliant and uses physical replication to track the S&P 500 Index. Derivatives are permitted only for the purpose of risk reduction, cost reduction or managing income, which is within UCITS guidelines for efficient portfolio management (EPM). The fund seeks to mirror the index so it is easy to understand. It holds all of the shares of the Index, in the sameproportions as the Index, so that essentially the portfolio of the Fund will be a near mirror image of the Index. The fund is rated 6/7 risk indicating volatility, but not complexity.",
        "complex": false,
        "explanation": "The ETF is UCITS compliant, physically replicates the index, and uses derivatives for EPM only, thus qualifying as non-complex."
    }
}