{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF invests in J.P. Morgan EMBI Global Core Index which tracks emerging market bonds. It uses FX forward contracts for hedging.  Also, the ETF can engage in securities lending to generate additional income.  The mix of complex bonds, hedging strategies introduces complexity.  The presence of FX forwards introduce complexities as well as the index itself.",
        "classification": "complex",
        "supporting_data": "The iShares J.P. Morgan $ EM Bond CHF Hedged ETF uses FX forward contracts for hedging currency risk. This indicates the use of derivatives. Furthermore, the underlying index measures the performance of actively traded FI securities in emerging market countries. FI securities include both investment grade and sub-investment grade securities (i.e. have a relatively low credit rating). The presence of these features lead to a complex assessment. The fund's use of derivatives for hedging, the inclusion of sub-investment grade securities, securities lending practices and the complexity of the underlying index all contribute to the complex classification. Securities lending is a secondary feature. Currency hedging, although a risk mitigation strategy, employs derivatives that contribute to complexity under the MiFID II framework."
    }
}