{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF tracks an ESG screened index, which means companies are excluded based on environmental, social, and governance criteria. While the ETF itself appears to use physical replication, the exclusion criteria introduce a layer of complexity.",
        "classification": "non-complex",
        "supporting_data": "The iShares MSCI Japan ESG Screened UCITS ETF primarily uses physical replication to track the MSCI Japan ESG Screened Index. This approach generally aligns with a non-complex classification. The exclusion criteria used by the index provider based on ESG considerations may create a degree of opacity, however, it does not necessarily mean it is complex. Additionally, derivative usage is stated to be limited to EPM and therefore should not automatically classify as complex. According to the data, the ETF uses a transparent index. In addition, there are no references to leverage or synthetic replication and therefore this ETF is classified as non-complex. No mention of any factors identified in the European regulatory that would classify the asset as complex. This determination is based on the provided KID document. The ETF's structure is straightforward, with risks primarily related to market volatility and tracking error, which retail investors should be able to understand. The ESG screening of the index is not necessarily a complexity driver in this instance."
    }
}