{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "The ETF invests in the MSCI World Materials ESG Reduced Carbon Select 20 35 Capped Index. The ESG criteria and exclusion of issuers based on controversial activities and involvement in severe ESG related controversies introduce complexity. The fund may use derivatives for direct investment purposes.",
        "classification": "non-complex",
        "supporting_data": "The iShares MSCI World Materials Sector ESG UCITS ETF aims to track an index that is composed of equity securities. It primarily uses physical replication and is managed under UCITS regulations. Although the fund may use derivatives for direct investment purposes, the KID document does not state it uses them central to its strategy. The investment strategy focuses on ESG criteria, which exclude certain companies based on their activities, this adds a layer of complexity, but does not cause the fund to automatically be classified as complex. The fund uses an optimized approach to reduce carbon emissions and minimize tracking error, indicating that the index methodology includes the application of certain complex criteria. This approach is considered a secondary feature, and does not trigger a complex classification under MiFID II."
    }
}