{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "derivatives": false,
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The ETF is a UCITS ETF, which carries a presumption of being non-complex. It passively tracks the MSCI World Mid-Cap Equal Weighted Index using physical replication (investing in equity securities that make up the index). The KIID states it uses 'optimising techniques' which 'may include the strategic selection of certain securities... or other securities which provide similar performance'. It also mentions 'financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets)' may be used for direct investment purposes, but 'The use of FDIs is expected to be limited for this Share Class.' Given the primary method is physical replication and derivative use is stated as limited, it leans towards non-complex. The risk profile is rated 6, but this is based on market movements and smaller companies, not structural complexity as per MiFID II. Securities lending is mentioned but is a secondary activity to reduce costs and does not dominate the risk profile. There is no mention of leverage, embedded derivatives, or complex underlying assets that would make understanding difficult for a retail investor. The index itself (MSCI World Mid-Cap Equal Weighted) is a standard equity index. Therefore, based on the provided information and MiFID II guidelines, the ETF is classified as non-complex."
    }
}