{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": [
            "Derivatives",
            "Counterparty Risk"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant, but it uses a stratified sampling approach and can also make use of derivatives 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. This also creates counterparty risk. The KIID specifies that the investor should have risk tolerance and capacity and that the value of a unit may fall below the purchase price. It has a risk rating of 5. It does not participate in securities lending. Although the ETF tracks a transparent index, the use of derivatives, specifically total return swaps, for replicating the index performance and the associated counterparty risk increase complexity, even if UBS (Lux) Fund Solutions collateral policy mitigates the OTC derivative counterparty risk. This ETF would likely be classified as complex under MiFID II, regardless of the collateralization policies due to the need for the average retail investor to comprehend derivative trading costs and counterparty risk.",
        "assessment": "Complex"
    }
}