{
    "success": true,
    "data": {
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The fund is explicitly identified as a 'UCITS ETF', which are generally presumed non-complex due to strict regulatory requirements. The replication method is 'physical', involving buying the underlying securities of the index, which is considered transparent and straightforward. The fund states that it 'may employ techniques and instruments in order to manage risk, reduce costs and improve results. These techniques and instruments may include the use of financial contracts (derivatives)'. This indicates derivatives are used solely for efficient portfolio management (EPM) purposes, rather than as an inherent element of the investment strategy or for complex payoffs (like a 'structured UCITS'). Per the provided rules, derivative use solely for risk management/EPM, without being integral to the objective, does not trigger a complex classification, and the 'derivatives' flag should be 'false'. There is no explicit mention of 'swap usage' or Contingent Convertible Bonds in the KID, which would automatically lead to a 'complex' classification. The index it tracks, 'MSCI Taiwan 20/35 Custom Index', has clearly defined capping rules, which, while custom, are transparent and do not introduce a level of complexity that would require advanced financial knowledge to understand, nor do they make it an 'opaque index' or 'complex index'. The fund does not appear to use significant leverage, offer capital protection through complex structures, or exhibit features like roll costs, contango, or backwardation effects that would imply a complex underlying strategy. Securities lending is mentioned as a secondary activity to generate income, managed within UCITS rules, and does not dominate the risk profile to make it complex. The high risk-reward category (6/7) reflects market volatility, not structural complexity. Based on the MiFID II rules and ESMA guidance, particularly the strong presumption of non-complexity for UCITS and the absence of features identified as complex (e.g., synthetic replication, integral derivative use, embedded derivatives, or complex structured payoffs), the asset is classified as non-complex."
    }
}