{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Contingent Convertible Bonds (CoCos)",
            "Currency Hedging",
            "Derivatives",
            "AT1 Bonds"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant but tracks an index of Contingent Convertible Bonds (CoCos) which are considered complex instruments due to their write-down or conversion features, lack of stated maturity and discretionary coupons. Currency hedging is implemented using forward exchange contracts which introduces complexity. The ETF may invest in securities not in the index, including other bond-related securities which are derivatives and further increases complexity."
    }
}