{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF tracks the MSCI USA Index (Net Return), which is a large and mid cap US equity index. The KID states that the ETF invests in equities and may therefore be subject to high volatility, which requires an elevated risk tolerance and capacity.",
        "classification": "non-complex",
        "supporting_data": "The UBS (Irl) ETF plc - MSCI USA UCITS ETF uses physical replication, holding the shares in the same proportions as the underlying index. The Key Investor Information Document (KIID) states the fund objective is to track the performance of the MSCI USA Index (Net Return). The fund may use derivatives for risk reduction, cost reduction or generating additional capital or income, so the risk associated with the derivative use is for risk management and not essential to the strategy. The KIID states the fund invests in equities. The ETF is therefore considered non-complex because it employs physical replication and is expected to mirror the index performance. The fund has a high risk rating of 6/7 on the KID risk scale, meaning it is very high volatility, which is not a factor for determining complexity."
    }
}