{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "ESG screening process introduces complexity. increased diversification limits available under the UCITS Regulations.",
        "classification": "non-complex",
        "supporting_data": "The SPDR S&P 500 Leaders UCITS ETF is UCITS compliant, and seeks to track the S&P 500 Scored & Screened Leaders Index using physical replication. Derivatives are only used for efficient portfolio management (EPM), and the ETF does not engage in securities lending. Despite being UCITS compliant, the ESG screening process and the use of increased diversification limits available under the UCITS Regulations introduce complexity, potentially requiring a deeper understanding of the index methodology and the impact of ESG factors on portfolio performance. This could make it difficult for retail clients to easily understand. There is index tracking risk, and the ESG screening can lead to incorrect assessment of screen criteria, which could be difficult for the average retail client to understand. "
    }
}