{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "complex_factors": [
            "Derivative use for index replication",
            "Counterparty risk due to OTC derivatives"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant, but uses derivatives to achieve its investment objective by tracking the Bloomberg US 1-3 Year Treasury Bondu2122 Index (Total Return). The KIID states, 'The Fund... will take proportionate exposure on the components of the Bloomberg US 1-3 Year Treasury Bondu2122 Index (Total Return) either through direct investments in all or substantially all of the component securities and/or through the use of derivatives in particular where it may not be possible or practicable to replicate the index through direct investments or in order to generate efficiencies in gaining exposure to the index'. The data from the KIID goes on to say 'Exposure to the index through derivatives may be affected by derivative trading costs. The use of OTC derivatives further engenders counterparty risk which is however mitigated by UBS (Lux) Fund Solutions collateral policy.' Thus the risks are present, and the ETF has been determined to be a complex asset due to it's use of derivatives.",
        "complex": true,
        "non-complex": false
    }
}