{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF invests in Emerging Market Corporate Bonds. These are not considered inherently complex, and the replication method is physical, leaning towards a non-complex classification. The ETF promotes ESG characteristics, and while this may influence investment decisions, it does not introduce structural complexity. The KID mentions the Fundu2019s risk rating is 4/7, which is a market risk not a structural one. The index tracked is not stated to be complex, therefore the ETF is non-complex under MiFID II. The use of Financial derivative instruments is limited by the document.",
        "classification": "non-complex",
        "supporting_data": "The L&G ESG Emerging Markets Corporate Bond (USD) UCITS ETF (the Fund) is a passively managed exchange traded fund (ETF) that aims to track the performance of the J.P. Morgan ESG CEMBI Broad Diversified Index (the Index), which tracks emerging market corporate bonds. The fund will primarily invest in a representative sample of the bonds contained in the Index. The fund uses physical replication. The KID does not indicate the use of derivatives for anything other than EPM. Securities lending is not mentioned, leverage is not used, and the underlying index appears to be transparent. Therefore, the ETF is expected to be non-complex. The KID describes the underlying market as emerging markets, so the fund will be subject to market risk. This does not make the asset complex."
    }
}