{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "Total Return Swaps, Thematic Index focused on AI and Robotics,  Counterparty Risk",
        "classification": "complex",
        "supporting_data": "This UCITS ETF tracks the Indxx Global Robotics & Artificial Intelligence Thematic v2 Index. The KID document states that the fund uses derivatives, specifically total return swaps, for replication purposes. The fund is actively managed, therefore will embed complex elements. The use of swaps introduces counterparty risk and the need for collateral management, which retail investors may not fully understand. The fund's investment objective is to generate returns that closely correspond to the price and yield performance of an index, implying that the index tracking strategy is likely to be synthetic. The ESMA guidance states that any derivative usage can lead to a complex determination, especially when tied to a Total Return Swap. Therefore, this ETF is classified as complex. Also the ESMA document states that the use of derivatives leads to a complex asset determination. The index it tracks also focuses on a sector that includes new and developing companies that is an additional risk factor. The KIID document states that this fund is in risk category 7, indicating high volatility, and risk related to rapid product obsolescence, government regulation and patent and intellectual property rights. These factors contributes to the assessment as complex.",
        "past_performance_note": "The KID includes past performance data, though the document acknowledges it is insufficient to be useful. The performance graph is shown only for reference and cannot be used for future expectations."
    }
}