{
    "success": true,
    "data": {
        "complex": true,
        "leverage": true,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "Leverage (2x)",
            "Use of derivatives (swaps)",
            "Indirect replication via swaps",
            "Potential for significant tracking error"
        ],
        "classification": "complex",
        "supporting_data": "The Amundi LevDax Daily (2x) leveraged UCITS ETF relies on indirect replication through an over-the-counter swap contract (a financial derivative instrument). This is a key factor in the complexity assessment. The use of 2x leverage also introduces significant risk and is not easily understandable for retail investors with basic knowledge. While the ETF is structured as a UCITS ETF, the use of derivatives, leverage, and indirect replication via swaps introduces complexity and potential risks such as counterparty risk and valuation risk that are difficult for retail investors to comprehend. The high risk rating also signals potential volatility and lack of predictability, which can amplify the understanding challenges for a retail investor."
    }
}