{
    "success": true,
    "data": {
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "Biotechnology sector volatility"
        ],
        "classification": "non-complex",
        "supporting_data": "The ETF is a UCITS ETF, which presumes a non-complex classification. It aims to track the NYSE Arca Biotechnology Index by investing primarily in equity securities included in the index, using a physical replication method. The KIID states the fund is passively managed and has an index replicating objective. Derivatives are not mentioned as being part of the investment policy. The risk profile (category 6) reflects the inherent volatility of the biotechnology sector, not structural complexity. The KIID does not indicate any use of leverage, embedded derivatives, or other complex features that would necessitate a complex classification according to MiFID II rules. The underlying index is described as an equity index, and no mention of complex underlying assets or structures is made."
    }
}