{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The PIMCO Euro Short Maturity UCITS ETF is presumed non-complex as it is a UCITS ETF. The investment policy states the fund will invest primarily in Euro-denominated fixed income securities, including government bonds and corporate debt securities. It mentions investing up to one-third of its assets in non-Euro denominated currency positions, generally hedged back to Euro. The fund may use forwards or forward settling contracts, and the return is linked to movements in the underlying assets. However, the key information provided suggests these are for EPM purposes and do not appear integral to the core strategy in a way that would introduce significant complexity or counterparty risk for retail investors. The focus on 'investment grade' securities and a weighted average maturity not exceeding 3 years, with an average portfolio duration of up to one year, indicates a strategy generally associated with lower risk and complexity. The KIID also categorizes the fund's risk as 1 out of 7, signifying low risk. The mention of potential derivative use is limited and doesn't suggest synthetic replication or complex derivative structures that would automatically classify it as complex."
    }
}