{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Multi-Factor Index",
            "Securities Lending"
        ],
        "classification": "non-complex",
        "supporting_data": "The ETF is UCITS compliant and aims to replicate the S&P 500 Quality, Value, and Momentum Multi-Factor Index (Net Total Return) using physical replication. It holds the securities in the index in their respective weightings. The ETF may engage in securities lending, but it is a secondary feature and managed within UCITS rules. The risk rating is 6/7, primarily reflecting market volatility rather than structural complexity. The fund does not appear to embed derivatives. It targets a multi-factor index which is made up of quality, value and momentum components which may be hard for some retail investors to fully understand the risks of.",
        "complex": false,
        "reason": "While the fund tracks a multi-factor index, it does so through physical replication and does not embed derivatives, therefore, it does not fall under the complex classifications in MiFID II."
    }
}