{
    "success": true,
    "data": {
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The iShares MSCI EMU SRI UCITS ETF EUR (Acc) Share Class is classified as a UCITS ETF, which benefits from a presumption of non-complexity under MiFID II due to its regulated nature. The Fund explicitly states its intention to replicate its benchmark index by 'holding the equity securities which make up the Index, in similar proportions to it', confirming a physical replication method. This method is considered transparent and straightforward, supporting a non-complex classification.While the Fund's investment manager 'may use Financial Derivative Instruments (u201cFDIsu201d) to help achieve the Fundu2019s investment objective', and may engage in 'short-term secured lending of its investments to certain eligible third parties to generate additional income to off-set the Fundu2019s costs', these uses are characteristic of efficient portfolio management (EPM) rather than being integral to the core replication strategy (which is physical). The associated 'Counterparty Risk' is a general risk of derivative use and securities lending common to UCITS, but does not indicate that derivatives are used in a way that makes the ETF's structure or payoff difficult for a retail investor to understand in the context of a physically replicated fund. As per the provided rules, if derivatives are used for risk management rather than as an inherent element of the strategy, the 'derivatives' field is set to false. No explicit 'swap usage' is identified in the provided text, only the broader term 'Financial Derivative Instruments', which does not trigger the specific 'swaps' override for complexity.The underlying index, while incorporating ESG screening, is composed of equity securities, and its methodology is described transparently. There are no indications of significant leverage, embedded derivatives (in the sense of structured products with complex payoffs), capital protection with complex structures, or any references to elements such as roll costs, contango, or backwardation effects that would imply a complex futures-based structure. The high-risk rating (six out of seven) on the KID reflects market volatility typical of equity investments, not structural complexity.Based on the fund's UCITS status, its physical replication method, and the nature of its derivative use for EPM, the ETF is assessed as non-complex."
    }
}