{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Currency hedging using derivatives",
            "Securities lending"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant and uses a physical replication method. However, it employs currency hedging using forward contracts, which introduces a derivative element. Securities lending is permitted, which adds a small degree of counterparty risk. The index being tracked is relatively simple, however the use of derivatives pushes it into the complex category according to ESMA guidlines. Although derivatives are used, they are not embedded in the product, but are used for managing the currency fluctuations of a portfolio that is 100% hedged to USD. Securities lending is only permitted to generate additional capital or income, but this feature is secondary and well-managed within UCITS rules.",
        "complex": true,
        "non-complex": false
    }
}