{
    "success": true,
    "data": {
        "type": "ETF",
        "ucits": true,
        "replication_method": "physical",
        "complex_factors": [],
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "supporting_data": "The ETF is passively managed and aims to reflect the performance of the S&P/ASX 200 TR index. The investment policy states the fund will replicate the index by buying all or a substantial number of the securities in the index, which is physical replication. The KIID indicates the anticipated level of tracking error in normal market conditions is 1%, which is a standard characteristic and not indicative of complexity. While the KIID mentions that derivatives may be used for risk management, cost reduction, and improving results, and that securities lending may occur, these are described as potential tools rather than integral to the investment strategy. The description of the index (S&P/ASX 200 TR) is of a broad equity market index. The risk profile is rated category 6 out of 7, which is high, but this is attributed to potential fluctuations in share price and likelihood of losses and gains, not structural complexity. There is no mention of embedded derivatives, leveraged strategies, or other complex structures. The fund is UCITS compliant, which by its nature implies a certain level of investor protection and regulatory oversight designed to make it understandable for retail investors.",
        "classification": "non-complex"
    }
}