{
    "success": true,
    "data": {
        "complex": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "None"
        ],
        "classification": "non-complex",
        "supporting_data": "The iShares MSCI World Energy Sector UCITS USD (Dist) Share Class is a UCITS ETF. It aims to track the MSCI World Energy Index by investing in the underlying equity securities of the index. The KID explicitly states that the Fund is passively managed and aims to invest in equity securities that make up the Index. There is no mention of the use of derivatives for replication purposes. While the Fund may engage in short-term secured lending for income, this is a secondary activity and does not inherently make the ETF complex. The risk and reward profile indicates concentration in a specific sector (energy), which contributes to its risk rating but not its structural complexity. The UCITS status itself, coupled with physical replication of a well-known index, strongly suggests a non-complex classification. The absence of embedded derivatives, leverage, or other complex structures further supports this determination."
    }
}