{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF invests in USD-denominated bonds. Uses currency hedging techniques. The ETF may use derivatives. The use of derivatives could increase or reduce the exposure to underlying assets and result in greater fluctuations of the Fund's net asset value.",
        "classification": "non-complex",
        "supporting_data": "The Vanguard USD Treasury Bond UCITS ETF employs physical replication, tracking the Bloomberg Global Aggregate US Treasury Float Adjusted Index. The use of derivatives is stated for risk reduction and extra income. The ETF invests in a representative sample of bonds in the index. The KID risk profile is 4/7 which reflects market volatility and not structural complexity, The ETF complies with the UCITS regulatory requirements for diversification, liquidity, and transparency. The currency hedging introduces some complexity but does not result in the ETF being classified as complex. The ESMA guidance states that derivative use may lead to complexity. However, in this case the derivatives are used to mitigate risk rather than drive the fund's return."
    }
}