{
    "success": true,
    "data": {
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "None identified"
        ],
        "classification": "non-complex",
        "supporting_data": "The asset is classified as non-complex based on the MiFID II framework. It is a UCITS ETF, which carries a presumption of non-complexity. This presumption is upheld as the fund employs a physical replication strategy ('replicate the Index by holding in similar proportions the equity securities in the Index'), which is transparent and straightforward for a retail investor to understand. The Key Investor Information Document (KIID) makes no mention of the use of derivatives, swaps, or leverage as part of the investment strategy. The objective is to track a standard equity index (NASDAQ Global High Equity Income Index), and there are no embedded features that would add structural complexity. Although the SRRI risk rating is high at 6/7, this reflects market volatility inherent in equities, not complexity in the product's structure. Therefore, the ETF's structure, risks, and payoff are easily understood, meeting the criteria for a non-complex classification.",
        "final_assessment": "Non-Complex"
    }
}