{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "ESG criteria",
            "Optimising techniques"
        ],
        "classification": "non-complex",
        "supporting_data": "The iShares u20ac Corp Bond ESG UCITS ETF EUR (Dist) is a UCITS ETF that tracks the Bloomberg Barclays MSCI Euro Corporate Sustainable SRI Index. The fund primarily invests in fixed income securities (bonds) that meet ESG (Environmental, Social, and Governance) criteria. The fund employs physical replication, holding the underlying bonds of the index. Derivatives are used only for efficient portfolio management (EPM) such as strategic security selection and optimising techniques to achieve a similar return to the Index. The fund's structure is straightforward and aims to reflect the performance of a transparent index. The primary risks relate to changes in interest rates, credit risk, and market volatility, not structural complexity making it a non-complex product. The fund may engage in short-term secured lending of its investments to certain eligible third parties to generate additional income which is within the MiFID II rules. The index itself does not embed derivatives. The product does not have any leverage and a basic understanding of its investment objectives, structure, and risks should be easily understood by retail investors. Securities lending does not automatically make an ETF complex and is a secondary feature well-managed within UCITS rules. ESMA and the MiFID II Guidlines support that it is suitable for non-complex. As stated by ESMA in the document ESMA35 -36 -1640 - MiFID II Supervisory Briefing on Appropriateness and execution -only it is important to note the distinction between complex and non-complex financial instruments to increase investor protection. The Fund does not use derivatives as an inherent element of the strategy and is non-complex."
    }
}