{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The SPDR MSCI Europe Materials UCITS ETF uses physical replication to track the MSCI Europe Materials 35/20 Capped Index. The fund invests primarily in securities included in the Index, which includes equity securities. Derivatives are used to manage the portfolio efficiently. The structure is straightforward, involving investment in a well-defined and transparent index. The fund's maximum exposure to securities lending is 40%. The fund's risk profile and performance are directly linked to the underlying index, making it accessible to retail investors with basic financial knowledge. According to the document provided, the fund is classified in risk category 6. No leverage is used in the strategy. There is no mention of complex features or any embedded derivatives. The fund's objectives are straightforward, and its investment policy (track the performance of a specific market sector) is clear. The fund will be categorized as non-complex as the key factors for the classification are not present in the document provided, so the ETF structure, risks, and replication method are all easily understandable by a retail investor with basic knowledge. "
    }
}