{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "Actively managed ESG fund, smaller capitalisation companies",
        "classification": "non-complex",
        "supporting_data": "The fund is a UCITS ETF, which typically suggests non-complexity. It is actively managed with an ESG focus, investing primarily in Japanese companies, including smaller capitalisation companies. Although it uses an actively managed strategy and invests in smaller companies which can introduce complexity, it operates under UCITS regulations and includes ESG analysis in investment decisions. The use of derivatives is permitted for efficient portfolio management, implying minimal impact on the risk-return profile. Physical replication is used which supports a non-complex classification. The ETF is designed to outperform the MSCI Japan Index, but its structure and risks are fairly straightforward given it's UCITS status and actively managed strategy within ESG guidelines. No swaps or any structured product aspects are described. As such it can be classified as non-complex.",
        "complex": false
    }
}