{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The fund is a UCITS ETF that passively tracks the Bloomberg MSCI Global Aggregate Sustainable and SRI Currency Neutral Index. The replication method is primarily physical, as stated: 'by buying a portfolio of securities that may comprise the constituents of the index or other unrelated investments or other eligible assets'. The fund uses financial contracts (derivatives) to minimize foreign currency fluctuations, which is considered Efficient Portfolio Management (EPM) and not integral to achieving the investment objective. The index itself is a broad-based measure of the global investment grade fixed-rate debt markets, which is considered transparent. The risks mentioned, such as credit risk, interest rate risk, and market volatility, are standard for bond ETFs and do not indicate structural complexity that would be difficult for a retail investor to understand. The fund is classified in category 3 on the risk scale, indicating relatively low fluctuations, further supporting a non-complex classification. There is no mention of embedded derivatives, complex securitization, or other features that would typically lead to a complex classification under MiFID II rules. The use of derivatives is limited to currency hedging, which is a common EPM technique for UCITS ETFs and generally considered to not make the ETF complex if managed appropriately and transparently."
    }
}