{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The iShares MSCI World SRI UCITS ETF GBP Hedged (Dist) is classified as non-complex. It tracks the MSCI World SRI Select Reduced Fossil Fuel Index using physical replication, which means it holds the actual securities of the index. The KID document states the ETF aims to provide a return that reflects the index, is passively managed. The ETF is hedged to GBP which is using FX forward contracts. The use of derivatives is limited to currency hedging, a risk management strategy that does not make the ETF complex. The index uses exclusionary and ratings-based criteria to select companies with higher ESG ratings and the fund reduces the portfolio by at least 20% compared to the Regional Indices which supports non-complexity.  The structure is straightforward and easily understood by retail investors. There is no leverage, embedded derivatives, or opaque features that would contribute to complexity. The risk profile is a 6/7, indicating market volatility, not structural complexity."
    }
}