{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The fund is a passively managed UCITS ETF that employs sampling techniques to select securities in the Bloomberg US Long Treasury Index. The ETF uses physical replication. Derivatives are not mentioned to be used for replication. The index is transparent. The fund invests in US Treasury bonds with a maturity greater than 10 years and an investment grade rating. Securities lending is permitted, but doesn't dominate the risk profile. The risk rating is 6/7 which reflect market volatility, not structural complexity.",
        "complex": false,
        "non-complex": true,
        "explanation": "Based on the provided information, the UCITS ETF is classified as non-complex because it primarily uses physical replication to track a transparent index of US Treasury bonds. While securities lending is permitted, it doesn't significantly increase risk. The ETF's structure and risks are relatively straightforward for retail investors to understand."
    }
}