{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF tracks an emerging markets index, which may present some complexity if retail investors are not familiar with the risks associated with these markets, as well as the index composition, especially if some indices are themselves complex.",
        "classification": "non-complex",
        "supporting_data": "The provided Key Investor Information Document (KIID) for the Xtrackers MSCI Emerging Markets UCITS ETF indicates that the fund aims to replicate the performance of the MSCI Total Return Net Emerging Markets index. The fund uses derivatives to manage risk efficiently. The index is designed to reflect the performance of shares of certain companies in global emerging market countries as determined by MSCI. The ETF is classified as category 6 due to the likelihood of high gains and losses. Securities lending is used to generate income to offset the costs of the fund. No leverage, capital protection or swaps are mentioned. Since the ETF is UCITS compliant and not explicitly using derivatives to replicate its underlying, the ETF appears non-complex. The use of derivatives appears to be limited to risk management, which generally does not trigger a complex classification. The index may involve complexity and volatility to the uninitiated investor. The ETF is using physical replication methods."
    }
}