{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "Synthetic replication via swaps introduces counterparty risk and opacity.  The use of swaps means this is not a simple structure.",
        "classification": "complex",
        "supporting_data": "The Invesco JPX-Nikkei 400 UCITS ETF utilizes unfunded swaps to achieve its investment objective. This synthetic replication method, as described in the provided KID, introduces complexity through counterparty risk associated with the swaps. The use of derivatives for replication, as per the MiFID II guidelines, leads to a complex classification, especially given that the swap agreements are integral to replicating the index's performance. The ETF's structure is therefore not straightforward and requires understanding of complex financial instruments. This structure means it is not a simple structure as noted in the ESMA guidelines."
    }
}