{
    "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 tracks the Nasdaq Global Future Mobility Index using physical replication ('buying all or a substantial number of the securities in the index'). While it states it 'may employ techniques and instruments in order to manage risk, reduce costs and improve results' and 'may use financial contracts (derivatives)', the primary method is physical replication. The documentation emphasizes that derivative use is for risk management, cost reduction, or improving results, not integral to the investment objective in a way that would typically render it complex. The ETF also engages in securities lending for additional income, which is a common practice for ETFs and does not automatically trigger complexity if well-managed within UCITS rules. The KIID states a risk classification of 6 out of 7, but this reflects market volatility and the nature of the 'future mobility' theme rather than inherent structural complexity that would be difficult for a retail investor to understand. The index is described as rules-based and transparent in its methodology. There is no mention of embedded derivatives, complex structured products, or leverage beyond standard UCITS provisions. The focus on ESG criteria, while adding a layer to index construction, does not inherently make the ETF's structure complex for the average retail investor under MiFID II. Therefore, based on the provided information, the ETF is presumed non-complex due to its physical replication and straightforward investment policy, with any potential derivative use being for ancillary purposes rather than core strategy."
    }
}