{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": [
            "Commodity Futures Contracts",
            "Swaps",
            "Roll Mechanism",
            "Indirect exposure to index constituents"
        ],
        "classification": "complex",
        "supporting_data": "This ETF is UCITS compliant but uses synthetic replication through commodity futures contracts and swaps to track the Bloomberg Commodity Index Total Return.  This introduces complexity due to the roll mechanism of futures contracts, potential counterparty risk with swaps, and a lack of direct holdings of physical commodities.  The ETF also gains indirect exposure to the precious metals components of the Index through investments in exchange traded notes or certificates that are listed or traded on a Regulated Market.  The complexity of commodity markets, as indicated by ESMA, and the use of derivative instruments inherently contribute to a complex classification due to the potential for retail investors' lack of understanding.",
        "complex": true
    }
}