{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The UCITS ETF tracks the NASDAQ-100 Index, which is a well-established and transparent index. The KIID explicitly states that the fund is passively managed and aims to reflect the performance of the index. The document mentions that the fund may employ techniques and instruments to manage risk, reduce costs, and improve results, including the use of financial contracts (derivatives), but this is in the context of efficient portfolio management and not as an integral part of the replication strategy. The primary replication method is physical, by buying all or a substantial number of the securities in the index, which is generally considered non-complex. The fund's risk profile is rated 6 out of 7, indicating high volatility, but this is attributed to market movements and not structural complexity. The document also states that the anticipated level of tracking error in normal market conditions is 1%, which is a standard characteristic of index-tracking ETFs and does not indicate complexity. There is no mention of embedded derivatives, leverage beyond UCITS limits, or other features that would typically classify an ETF as complex. The KID also highlights that the index is administered and calculated by Nasdaq Inc. and is reviewed and rebalanced quarterly, indicating a structured and transparent index. Given the passive replication, transparent index, and no mention of complex derivative strategies, the ETF is classified as non-complex."
    }
}