{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "The ETF uses unfunded swaps to achieve its objective of tracking the MSCI USA Index.",
        "classification": "complex",
        "supporting_data": "The Invesco MSCI USA UCITS ETF is classified as complex. This is because the fund uses unfunded swaps (derivatives) as a core element of its investment strategy to replicate the performance of the MSCI USA Index.  This synthetic replication introduces counterparty risk, which retail investors may not fully understand.  While the KID is designed to provide information, the inherent complexity of swaps and the reliance on a counterparty for index tracking contribute to the complex nature of the ETF.  The use of swaps for replication is central to the strategy and makes this a complex product."
    }
}