{
    "success": true,
    "response": "```json{  'leverage': false,  'derivatives': false,  'swaps': false,  'inverse': false,  'replication_method': 'physical',  'ucits': true,  'type': 'ETF',  'complex_factors': [],  'classification': 'non-complex',  'supporting_data': 'The asset is identified as a UCITS ETF, which, according to MiFID II rules (and explicitly CESR/09-295, Section IV, Paragraph 66 and 80), are generally presumed non-complex due to their strict regulatory requirements. The fund uses physical replication by buying a portfolio of securities that comprise the index constituents, which is a transparent and straightforward method. Derivatives are stated to be used solely for efficient portfolio management (EPM) purposes, such as managing risk and reducing costs, rather than as an inherent element of the investment strategy or for synthetic replication (e.g., through total return swaps). The underlying index, iBoxx EUR Sovereigns Italy & Spain Fixed Maturity 2029 Index, comprises standard government bonds and treasury bills, which are considered non-complex debt instruments and do not appear to embed derivatives. The fund does not employ significant leverage, nor does it have complex embedded derivatives or opaque features. Securities lending is mentioned as a potential income-generating activity but is not a primary risk driver and is managed within UCITS rules, hence it does not automatically trigger a complex classification. The risk indicator (4/7) on the KID reflects market risk (e.g., bond, credit, interest rate, maturity date risks) inherent to bond investments, not structural complexity. The fund's overall structure, objective, and risks are deemed easily understandable for a retail investor with basic financial knowledge, aligning with the criteria for non-complex instruments under MiFID II.'}```",
    "note": "Response was not in expected JSON format"
}