{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The Xtrackers MSCI USA ESG UCITS ETF is a passively managed ETF that aims to track the performance of the MSCI USA Low Carbon SRI Selection Index. The investment policy states that the fund will attempt to replicate the index by buying all or a substantial number of the securities in the index. This indicates physical replication, which is generally considered non-complex. The document also mentions that the fund may use derivatives for risk management, cost reduction, and to improve results, but this is stated as a possibility and not a core strategy. The risk and reward profile classifies the fund in category 6, indicating potentially higher reward and risk due to market movements, but this is not indicative of structural complexity. The ETF is UCITS compliant, which generally implies a regulated and non-complex structure unless specific features are present. The index selection criteria (ESG and low carbon exposure) relate to the underlying methodology of the index itself, not the complexity of the ETF's structure from a MiFID II perspective. There is no mention of embedded derivatives, leverage, or other complex features that would typically trigger a complex classification."
    }
}