{
    "success": true,
    "data": {
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "Minimum Volatility Index",
            "ESG Screening"
        ],
        "classification": "non-complex",
        "supporting_data": "The ETF aims to track the MSCI USA Minimum Volatility ESG Reduced Carbon Target Index, which involves selecting constituents based on minimum volatility, ESG criteria, and carbon reduction constraints. The ETF uses physical replication by investing in equity securities that make up the index. While the index methodology is complex due to minimum volatility and ESG screening, the underlying instruments are standard equities. The document states that the use of financial derivative instruments (FDIs) is expected to be limited for this Share Class, and it does not indicate any central reliance on derivatives for replication. There is no mention of leverage or other inherently complex features. The use of optimising techniques is also stated as limited. The risk indicator is rated six, but this reflects market volatility rather than structural complexity. Therefore, despite the complexity of the index construction, the ETF's structure and investment strategy are considered understandable for a retail investor, aligning with the presumption of non-complexity for UCITS ETFs, especially as physical replication is used and derivative use is limited."
    }
}