{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "Complex Index Methodology"
        ],
        "classification": "non-complex",
        "supporting_data": "The ETF is a UCITS ETF, which provides a baseline presumption of being non-complex. It tracks the Nasdaq Global Artificial Intelligence and Big Data Index. While the index's methodology involves screening and analysis of patent data, market size, trading volume, and ESG criteria, the KIID does not indicate the use of derivatives for index replication. The fund primarily uses physical replication by holding all or a substantial number of the securities in the index. The KIID states that derivatives may be used for risk management, cost reduction, and improving results, but this is described as a supporting technique rather than integral to the investment objective. Securities lending is mentioned as a secondary feature for generating income, with revenue sharing outlined, and it's stated that this has been excluded from the composition of costs, suggesting it's not a primary driver of risk or complexity. The risk profile is categorized as 6 out of 7, indicating high market risk due to the sector focus (AI and Big Data), but this high risk is attributed to market volatility rather than structural complexity. The KIID also highlights 'Rules Based Index Risk,' implying that the index itself is not adjusted for changing market circumstances, which is a characteristic of index tracking but not necessarily complexity. The general understanding of the index's constituents and the ETF's replication method (physical) are considered understandable for a retail investor with basic knowledge. The KIID does not mention any embedded derivatives, leverage beyond UCITS limits, or other features that would typically render an ETF complex."
    }
}