{
    "success": true,
    "data": {
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The Xtrackers MSCI Nordic UCITS ETF tracks the MSCI Nordic Countries Index, which reflects the performance of shares in developed markets in Nordic countries. The fund's investment policy is to replicate the index by buying a substantial number of the securities in the index, indicating a physical replication method. The KIID states the fund is passively managed and that the risk and reward profile is classified as category 6 out of 7, indicating high potential for both gains and losses due to share price fluctuations, but this is due to market risk, not structural complexity. Derivatives are mentioned as a possibility for efficient portfolio management to manage risk, reduce costs, and improve results, but their use is not integral to the investment objective. Securities lending is also mentioned as a way to generate additional income. The ongoing charges are stated as 0.30%. The document does not indicate any use of leverage, embedded derivatives, or complex underlying assets that would render the ETF difficult for a retail investor to understand. The primary driver of its risk profile is market volatility associated with equity investments, which is standard for ETFs tracking broad market indices. Therefore, based on the provided information and MiFID II principles, the ETF is classified as non-complex."
    }
}