{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "ESG screening criteria complexity",
            "Index methodology complexity"
        ],
        "classification": "non-complex",
        "supporting_data": "The fund is a UCITS ETF, which starts with a presumption of being non-complex. The ETF aims to replicate the MSCI UK IMI Low Carbon SRI Selection Capped Index, which involves ESG screening criteria and index selection rules. While the index itself has specific selection rules, the underlying mechanism for the ETF is physical replication, meaning it buys the securities in the index. The KID mentions that the fund may use financial contracts (derivatives) for risk management, cost reduction, and to improve results, but it does not state that derivatives are integral to achieving its investment objective. The risk profile is category 6, indicating high potential losses and gains due to market volatility, but this is not a structural complexity. The ETF's structure, replication method, and stated use of derivatives align with a non-complex classification. The ESG criteria, while specific, do not inherently make the investment structure complex for a retail investor to understand in the context of MiFID II appropriateness. The wording regarding derivatives suggests they are used for efficient portfolio management, not as a core strategy that would introduce counterparty or collateral risks to the extent that would render it complex. Therefore, based on the provided information, the ETF is considered non-complex."
    }
}