{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": true,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "Derivatives for investment purposes",
            "Potential counterparty risk",
            "Potential collateral risk"
        ],
        "classification": "complex",
        "supporting_data": "The UCITS ETF aims to replicate the performance of the Indxx U.S. Infrastructure Development v2 Index. While the primary method is investing in equity securities, the KIID explicitly states that the Fund may invest in 'financial derivative instruments (u201cFDIsu201d), namely, total return u201cunfundedu201d OTC swaps and exchange-traded equity futures for investment purposes.' The mention of 'total return OTC swaps' indicates the use of derivatives integral to the investment strategy. The KIID also lists 'Derivatives Risk' as a key risk factor, specifically mentioning counterparty risk and sensitivity to market volatility, which are characteristics of complex instruments. Although not exclusively using synthetic replication, the explicit allowance for and use of derivatives for investment purposes, rather than solely for efficient portfolio management, triggers a complex classification according to MiFID II rules."
    }
}