{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Cybersecurity Index",
            "Focus Score",
            "Revenue Growth"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant and uses a representative sampling approach to physical replication which generally suggests a non-complex asset. However, the WisdomTree Team8 Cybersecurity Index it tracks introduces complexity. The index uses a 'Focus Score' developed with third-party specialists and screens companies based on a trailing three-year compound annual revenue growth rate. The weighting of each security is calculated based on the Focus Score and Revenue Growth which are all factors that can be difficult for retail investors to fully understand. Securities lending is used for efficient portfolio management, which in itself isn't a complexity factor. The underlying index which the ETF seeks to replicate is complex and this can lead to a lack of easy understanding by clients under MiFID II. The index is not a standard equity or bond index and thus has a more complex structure. Therefore this ETF is classified as complex."
    }
}