{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "leverage": false,
        "inverse": false,
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The ETF tracks the MSCI World SRI Select Reduced Fossil Fuel Index using a passive, physical replication strategy. The index focuses on companies with higher ESG ratings and excludes certain business lines, which is a sustainability overlay rather than a complex derivative structure. The KIID states that the fund aims to achieve its objective by investing in equity securities that make up the Index. While the fund mentions the possibility of using Financial Derivative Instruments (FDIs) for efficient portfolio management or direct investment, this is stated as a potential use and not as integral to the replication method. Crucially, the primary investment strategy is physical replication of an equity index, which is generally considered non-complex. The currency hedging mentioned uses FDIs, likely FX forward contracts, which are typically used for hedging and do not inherently make the ETF complex if managed within UCITS limits and for EPM. The risk indicator of six reflects market volatility, not structural complexity. There are no indications of embedded derivatives, leverage beyond UCITS limits, or complex underlying assets that would make understanding difficult for a retail investor with basic knowledge."
    }
}