{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": true,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "Currency Hedging"
        ],
        "classification": "non-complex",
        "supporting_data": "The Xtrackers II Global Government Bond UCITS ETF aims to reflect the performance of the FTSE World Government Bond Index u2013 Developed Markets. The index tracks fixed-rate, local currency, investment-grade sovereign debt. The fund uses physical replication to track the index. While the fund mentions entering into financial contracts to reduce exchange rate fluctuations (currency hedging), this is for risk management and does not appear to be integral to the investment objective in a way that would introduce complexity. The KIID states the fund is classified in category 4 for risk, indicating a relatively high likelihood of losses and gains, but this is due to market volatility, not structural complexity. There's no mention of embedded derivatives, leverage, or complex underlying assets. The use of derivatives for efficient portfolio management (currency hedging) is generally considered acceptable for non-complex UCITS ETFs as long as it's limited and doesn't fundamentally alter the risk profile. The underlying index is a standard government bond index. Therefore, based on the provided information and MiFID II guidelines, the ETF is considered non-complex."
    }
}