{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The iShares Digital Security UCITS ETF USD (Acc) appears to be a non-complex ETF. It aims to replicate the STOXX Global Digital Security Index using optimizing techniques, including direct investment and potentially the use of FDIs, with the expectation of limited usage. Given that the ETF uses physical replication with the intention of limited usage of FDIs and the fund invests in securities that make up the index that will comply with the credit or ESG requirements, with the objective and risks being straightforward. Therefore, this ETF does not meet the criteria to be classified as complex. No leverage, inverse or structured products are mentioned, and therefore, it falls under the presumption of non-complex assets as defined in MiFID II. Furthermore, given the focus on a specific sector, digital security, while not directly making it complex, may lead to a higher risk rating. The KID rates the product a 6/7 on the risk rating. This does not directly translate into complexity, as it reflects market volatility, which is standard for equity ETFs and is adequately captured in the KID, and should not impact the determination of classification."
    }
}