{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "Swaps",
        "classification": "complex",
        "supporting_data": "The Xtrackers Stoxx Global Select Dividend 100 Swap UCITS ETF uses swaps as its primary replication method.  The KID explicitly states that the fund uses derivatives (swaps) to obtain the return of the underlying index.  This synthetic replication, according to the provided MiFID II complexity assessment rules, is a key factor in classifying an ETF as complex. The use of derivatives, particularly swaps, introduces counterparty risk and collateral risk, which are considered difficult for retail investors with basic knowledge to understand.  Therefore, even though it's a UCITS ETF and doesn't explicitly use leverage, the core strategy's reliance on swaps makes it a complex product under MiFID II."
    }
}