{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "leverage": false,
        "inverse": false,
        "complex_factors": [],
        "supporting_data": "The iShares Core MSCI EM IMI UCITS ETF USD (Dist) is a UCITS ETF that aims to achieve its objective by investing in equity securities that make up the MSCI Emerging Markets Investable Market Index (IMI). The ETF uses physical replication, holding the underlying securities in similar proportions to the index. The KID explicitly states that the Fund is passively managed and aims to invest in equity securities that make up the Index. It mentions that the investment manager may use financial derivative instruments (FDIs) for direct investment purposes and that ADRs and GDRs may be used to gain exposure to certain securities. However, the primary replication method is physical. The risk profile indicates emerging market specific risks, currency risk, and general equity market risks, which are not indicative of structural complexity. Securities lending is mentioned as a method to generate additional income, but within UCITS rules and not as a primary driver of complexity. The low ongoing charges figure (0.18%) also suggests a standard, transparent structure. Based on the provided information, the ETF tracks a broad market index using physical replication, does not appear to use derivatives as a core strategy for replication, and its risks are primarily market-related rather than structural. Therefore, it aligns with the definition of a non-complex UCITS ETF.",
        "classification": "non-complex"
    }
}