{
    "success": true,
    "data": {
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "None"
        ],
        "classification": "non-complex",
        "supporting_data": "The asset is classified as non-complex based on the MiFID II framework. It is a UCITS ETF, which carries a presumption of non-complexity. The replication method is physical (via sampling), which is considered straightforward and transparent as the fund holds the underlying securities. The investment strategy does not involve derivatives; the KIID makes no mention of swaps, futures, or options being used to achieve the investment objective. The underlying index, the Bloomberg US Treasury 3-7 Year Index, is composed of highly liquid, standard US government bonds and is not structurally complex. The fund does not use leverage. While the fund engages in securities lending, this is a secondary activity for income generation and, when managed under UCITS rules, does not automatically render the ETF complex. The overall structure, risks (primarily interest rate risk), and investment objective are easily understandable for a retail investor.",
        "assessment": "Non-Complex"
    }
}