{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "Synthetic replication is integral to achieving its investment objective, using swaps to replicate the index's performance. The derivative element introduces counterparty risk and the potential for collateral issues.",
        "classification": "complex",
        "supporting_data": "The Xtrackers MSCI Mexico UCITS ETF uses derivatives (implied swaps) to replicate the index.The underlying strategy relies on synthetic replication, making it complex. Although the KID does not explicitly state synthetic replication, the use of derivatives for managing risk is stated. The replication method and derivative use trigger complexity. The ETF will engage in secured lending which introduces counterparty risk, and this adds to the complexity. The ESMA guidelines state that any derivative use implies complexity. The assessment hinges on the knowledge of the average retail investor who may struggle to understand the counterparty risk associated with swaps. This implies a 'comprehension alert' requirement."
    }
}