{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The fund seeks exposure to US Treasury Bonds. The document indicates the fund uses optimization methodology, indicating a sub-set holding. This is non-complex under MiFID II.",
        "classification": "non-complex",
        "supporting_data": "The JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF uses physical replication and tracks a straightforward index (ICE 0-3 Month US Treasury Notes & Bills Index). The use of derivatives is limited to efficient portfolio management (EPM). The KID states that the structure and risks are easily understood. The risk profile is low (1/7 on the KID scale). The index is transparent. The replication is physical and the objective is straightforward. There is no mention of leverage, embedded derivatives, or opaque features. There is no mention of any of the ESMA rules regarding any kind of derivative use, and therefore is classified as non-complex."
    }
}