{
    "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 ETF aims to achieve a return that reflects the MSCI Japan SRI Select Reduced Fossil Fuel Index. It is passively managed and aims to invest in the equity securities that make up the index. The index methodology involves ESG ratings and exclusionary criteria, which are transparently described. The ETF employs physical replication, holding the underlying securities. There is no mention of embedded derivatives, swaps, leverage, or complex structured products. The index is described as a sub-set of equity securities from the MSCI Japan Index with higher ESG ratings, which while involving ESG criteria, is not inherently complex in structure for the purpose of MiFID II classification. The risks highlighted are standard market risks for equities. The information provided in the KID and related documents does not indicate any features that would make the ETF complex under MiFID II rules. Specifically, it aims to track a transparent index using physical replication, which are hallmarks of non-complex UCITS ETFs. The use of financial derivative instruments is mentioned as a possibility, but the primary investment strategy is physical replication, and the documentation does not suggest derivatives are integral to the strategy or introduce complexity beyond efficient portfolio management. Even if derivatives are used for EPM, the document indicates the primary method is physical replication, aligning with a non-complex classification."
    }
}