{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "complex_factors": [
            "Commodity Index",
            "Financial Derivative Instruments (FDIs)",
            "Swaps",
            "Counterparty Risk"
        ],
        "classification": "complex",
        "supporting_data": "This UCITS ETF tracks a commodity index (UBS BCOM Constant Maturity Commodity Index Total Return). It uses financial derivative instruments (FDIs), specifically swaps with UBS AG as the counterparty, to achieve its investment objective. The fund's return depends mainly on the performance of the tracked index. The use of swaps introduces counterparty risk, as the fund's performance depends on UBS's ability to fulfill its obligations. The replication method is synthetic, as the performance of the index is swapped from UBS to the Fund, and in return the performance of the securities is swapped from the Fund to UBS. The fund is suitable for investors seeking capital appreciation and who are prepared to accept a high level of volatility. The PRIIPs Key Information Document (KID) should include a comprehension alert.",
        "explanation": "The UCITS ETF is classified as complex because it uses swaps (financial derivative instruments) to replicate the performance of the Bloomberg Commodity CMCI SF Index. This synthetic replication introduces counterparty risk, which is difficult for retail investors to understand."
    }
}