{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "The underlying index tracks ESG criteria and reweights the eligible securities based on ESG scores.",
            "Sampling techniques and the ESG criteria can increase complexity, as might the rebalancing methodology of the index."
        ],
        "classification": "non-complex",
        "supporting_data": "The ETF aims to replicate the performance of the Bloomberg MSCI Sterling Liquid Corporate ESG Weighted SRI Bond Index. The Fund employs a sampling technique. The index tracks sterling-denominated investment-grade corporate bonds. While the index has ESG criteria that could be considered complex, and the sampling technique might slightly increase tracking error relative to a full replication strategy, the underlying assets (corporate bonds) and the replication method (sampling) do not typically introduce complexities that would render this fund complex under MiFID II. The use of derivatives for managing risk, if any, is not central to the strategy and will likely have a negligible impact on the risk profile. Given the regulatory requirements on UCITS funds, the structure, risks, and payoff of the fund are likely to be easily understood by retail investors with basic knowledge. The primary risk will be market risk, which is inherent to bond ETFs. The fund may engage in securities lending which introduces counterparty risk but, if managed within UCITS rules, does not make an ETF complex."
    }
}