{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "The fund uses derivatives which can reduce investor risks or give rise to market risks as well as potential loss due to failure of counterparty.",
        "classification": "non-complex",
        "supporting_data": "The UBS (Irl) ETF plc - S&P 500 ESG ELITE UCITS ETF is a UCITS-compliant ETF, which means it benefits from the presumption of being non-complex. The KIID states that the Fund may use derivatives for the purpose of reducing risk, reducing costs or generating additional capital or income, which does not necessarily make it complex. The replication method is not explicitly mentioned in the provided document but the fund promotes environmental and/or social characteristics which would be most accurately and simply achieved by full replication methods, indicating that the fund likely employs a physical replication method, aligning it with a non-complex classification. The fund's primary risk is equity market development and exchange rate fluctuations, which is standard for ETFs and doesn't indicate structural complexity. The fund doesn't use leverage or significant derivative use that would increase complexity. The ESMA guidelines state that using derivatives for risk mitigation should not necessarily trigger complexity but it is still an important factor."
    }
}