{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF tracks an ESG-screened index. The fund may use derivatives for risk reduction.The currency hedging introduces complexity, with the KID stating that the impact of currency fluctuations between any foreign currency to the Index currency is reduced by selling foreign currency forwards at one month forward rate in line with the currency version of the Index.This potentially makes the fund complex due to currency hedging via derivatives.",
        "classification": "complex",
        "supporting_data": "This UCITS ETF, as per the provided KIID, tracks the S&P 500 Scored & Screened Hedged to EUR Index. The fund uses currency hedging, which involves selling foreign currency forwards. This is a derivative based risk management methodology, and according to the CESR document (III Section 2, paragraph 56), instruments that embed a derivative are always complex. Although this ETF seeks to track a transparent index, the use of derivatives for hedging pushes the classification to complex. ESMA and CESR have stated that using derivatives makes an asset complex."
    }
}