{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "Securities lending could introduce counterparty risk.",
        "classification": "non-complex",
        "supporting_data": "The ETF is UCITS compliant and seeks to track the MSCI World Index using physical replication by primarily investing in the index's securities. Derivatives may be used for efficient portfolio management (EPM) to manage inflows/outflows and reduce transaction costs, but not as an integral part of achieving its investment objective. Securities lending is mentioned, and while it introduces counterparty risk, it is limited to 40% of the Net Asset Value and should be well-managed within UCITS rules. The fund's objective and structure appear straightforward. The risk rating of 6/7 reflects market volatility but not necessarily structural complexity.",
        "complex": false,
        "non-complex": true,
        "explanation": "While securities lending introduces some risk, the ETF uses physical replication and derivatives only for efficient portfolio management, making it understandable for retail investors with basic knowledge."
    }
}