{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "complex_factors": "ESG Screening, Emerging Market Risk, Index Tracking Risk, PRC Investment Risk.",
        "classification": "non-complex",
        "supporting_data": "The ETF is UCITS compliant and uses physical replication to track the MSCI Emerging Markets Climate Paris Aligned Index. Derivatives are only used for efficient portfolio management (EPM) purposes, not as an integral part of achieving its investment objective. While there are risks associated with emerging markets, index tracking, and PRC investments, these are inherent in the investment strategy and do not make the ETF complex in terms of its structure. ESG screening is employed and while it may result in some loss of diversification it does not add to its complexity in terms of MiFID II classification. The ETF's objective, structure, and risks are deemed understandable by a retail investor with basic knowledge, and the PRIIPs Key Information Document (KID) does not require a comprehension alert. Therefore, based on the provided information, the ETF is classified as non-complex under MiFID II.",
        "explanation": "The UCITS ETF uses physical replication to track an index, with limited derivative use for EPM. This is less complex than synthetic replication and falls under the presumption of non-complexity for UCITS ETFs. There is no significant leverage or complex structuring. Therefore, it is 'Non-Complex'."
    }
}