{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "Potential derivative use for efficient portfolio management, Concentration Risk in Technology Sector, Index Capping 35/20",
        "classification": "non-complex",
        "supporting_data": "The ETF is UCITS compliant, indicating a baseline level of regulation and investor protection.  It aims to track the performance of large-sized U.S. information technology companies. The ETF employs a physical replication strategy which typically indicates non-complexity. The document notes the fund may use financial derivative instruments for efficient portfolio management, which, according to MiFID II guidelines, can introduce complexity depending on the extent and purpose. In this case the intended purpose is to manage the portfolio efficiently which can indicate non-complexity. The index capping introduces a level of complexity, however, this is mitigated by it's limited scope. Furthermore, concentration risk indicates that the asset may not be easy for the average investor to understand due to high risks in only one particular sector, also meaning that the index may not be well diversified."
    }
}