{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The Fund is a UCITS ETF, which is initially presumed non-complex. It explicitly states it uses a 'physical replication or representative sampling methodology', meaning it invests in the underlying securities of the index, which supports a non-complex classification. Derivatives are not described as integral to its investment objective or primary replication method, but rather for efficient portfolio management (EPM) such as securities lending, which introduces counterparty risk but does not automatically lead to a complex classification if well-managed within UCITS rules. The KIID does not mention the use of swaps for index replication, nor does it refer to holding Contingent Convertible Bonds, or complex effects like roll costs, contango, or backwardation. The underlying Solactive Innovative Technologies Index is described as 'rules-based methodology' and tracks publicly-traded companies, indicating a transparent and straightforward underlying. While the ETF has a high-risk rating (7/7), this is attributed to market volatility, which does not equate to structural complexity under MiFID II. The fund's structure and risks appear to be easily understandable by a retail investor with basic knowledge, consistent with a non-complex assessment."
    }
}