{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "The ETF uses optimizing techniques, which may include the strategic selection of certain securities or other FI securities. It uses currency hedging via derivatives (FX forward contracts) , which can affect performance.The index includes investment grade, subinvestment grade securities (i.e. have a relatively low credit rating credit or are unrated but deemed to be of comparable quality with sub-investment grade FI securities) or securities in default. The benchmark is the J.P. Morgan EMBI Global Core Index",
        "classification": "non-complex",
        "supporting_data": "Based on the provided Key Investor Information Document (KIID) and the MiFID II guidelines, the iShares J.P. Morgan $ EM Bond UCITS ETF CHF Hedged (Acc) is classified as non-complex. It aims to track the J.P. Morgan EMBI Global Core Index using optimizing techniques, which may include strategic selection of securities. The fund uses currency hedging with FX forward contracts to reduce exchange rate fluctuations, which can be a source of complexity, but in this case is used for risk management and is not central to the investment strategy. The KIID does not mention any significant leverage or the use of derivatives beyond currency hedging for the primary investment objective.The index tracks US dollar-denominated fixed income securities in emerging market countries, comprising investment grade, sub-investment grade securities, or securities in default. While the underlying index includes a wide range of fixed income securities, including potentially riskier sub-investment grade bonds and bonds in default. The ETF primarily uses physical replication of an index with a publicly available methodology. The fund's structure and risks appear straightforward, and retail investors with basic knowledge should understand the fund's objective (tracking an index), structure, and risks (market volatility and tracking error). Securities lending is mentioned but is a secondary feature, well-managed within UCITS rules and it doesn't dominate the risk profile. The fund is therefore classified as non-complex."
    }
}