{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF tracks a corporate bond index and may use derivatives for risk management rather than as an inherent element of the strategy. However, the inclusion of derivatives is mentioned in the KID. The KID also mentions currency hedging which may add some complexity.",
        "classification": "non-complex",
        "supporting_data": "The Vanguard EUR Corporate Bond UCITS ETF USD HEDGED ACCUMULATING is presumed non-complex because it is a UCITS ETF. It uses physical replication. The KID states that the ETF may use derivatives in order to reduce risk or cost and/or generate extra income or growth. The KID is explicit that currency hedging techniques are used. While there is derivative use, it is used for risk management rather than integral to the fundu2019s investment strategy. Therefore, because derivative use is limited to EPM, with minimal impact on the risk-return and the replication method is physical the fund is classified as non-complex. "
    }
}