{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "This UCITS ETF is classified as non-complex based on the provided MiFID II rules. It benefits from the baseline UCITS presumption of non-complexity. The fund explicitly states it uses physical replication by holding all the securities in the S&P 500 Equal Weight Index, which is a transparent equity index. Derivatives are not integral to achieving its investment objective; their only mentioned use is for securities lending, which is for efficient portfolio management (EPM) and does not constitute a core part of the replication strategy or introduce complex payoffs. The MiFID II rules specify that if derivatives are used only for EPM with minimal impact, the ETF is non-complex, and securities lending falls under this category. There is no indication of significant leverage or the use of complex features like contingent convertible bonds, replication swaps, or inverse strategies. The index itself is straightforward and its methodology is clear, not involving elements like roll costs or contango/backwardation typically associated with complex indices. The risk profile, while category 6, reflects market volatility common to equity investments, not structural complexity. The structure and risks are considered easily understandable for retail investors with basic knowledge."
    }
}