{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "leverage": false,
        "inverse": false,
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The ETF is passively managed and aims to reflect the performance of the MSCI Total Return Net Europe index by buying all or a substantial number of the securities in the index (physical replication). The KIID states that the fund may employ techniques and instruments to manage risk, reduce costs, and improve results, including financial contracts (derivatives), but this is presented as a possibility for efficient portfolio management and not central to the replication strategy. Securities lending is also mentioned as a possibility for generating additional income. The risk profile is classified as 6 out of 7, indicating potentially high losses and gains, but this is attributed to market volatility, not inherent structural complexity. The document also notes that transaction costs, unexpected fund costs, and market conditions may affect tracking error. Based on the available information, the ETF's primary objective is achieved through physical replication of a standard equity index. While the possibility of derivative use for EPM or securities lending exists, the core strategy is transparent and straightforward. The absence of embedded derivatives, leverage, or complex index construction supports a non-complex classification."
    }
}