{
    "success": true,
    "data": {
        "type": "ETF",
        "ucits": true,
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "Index methodology complexity"
        ],
        "classification": "non-complex",
        "supporting_data": "The UCITS ETF tracks the Euro STOXX 50 Index, which is a well-established and transparent index representing the performance of 50 large companies in the Eurozone. The ETF uses physical replication by buying a substantial number of the index's underlying securities, which is considered a straightforward and transparent replication method. The key investor information document (KID) highlights that the fund is passively managed and aims to reflect the performance of the index. It mentions that derivatives may be used for efficient portfolio management (EPM) to manage risk, reduce costs, and improve results, but this is a general statement about potential use, not an indication of their integral role in the strategy. The ongoing charges are low (0.09%), and securities lending revenue sharing is detailed, suggesting a standard operational setup. The risk profile is categorized as 6 out of 7, indicating high risk due to share price fluctuations, but this is market risk and not structural complexity. There is no mention of embedded derivatives, leverage beyond typical UCITS limits, or other features that would make the ETF complex. The focus is on tracking a broad market index through physical holding of securities, which aligns with the presumption of non-complexity for UCITS ETFs. The KIID states 'The fund will attempt to replicate the performance of the index, before fees and expenses, by buying all or a substantial number of the securities in the index.' This explicitly indicates physical replication."
    }
}