{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "ESG screening within index methodology",
            "Carbon emission reduction rule within index methodology",
            "Sector weighting adjustments within index methodology"
        ],
        "classification": "non-complex",
        "supporting_data": "The ETF is a UCITS ETF, which is presumed non-complex. It aims to reflect the performance of the MSCI Canada Select Screened Index. The index methodology includes ESG screening criteria and a carbon emission reduction rule, along with sector weighting adjustments. The fund uses physical replication by buying the securities in the index. Derivatives are only mentioned as a possibility for risk management, cost reduction, and improving results, but not as integral to the investment objective. Securities lending is mentioned as a revenue-generating activity. The KIID indicates a risk level of 6 out of 7, reflecting market volatility rather than structural complexity. The index itself, based on MSCI Canada, is generally considered transparent. The ESG and carbon screening, while adding complexity to the index construction, do not inherently make the ETF's structure or payoff difficult for a retail investor to understand compared to a standard index-tracking ETF. The absence of embedded derivatives or other complex structures confirms the non-complex classification. The KIID's reference to 'market volatility' and 'tracking error' are standard risks associated with ETFs and do not indicate complexity."
    }
}