{
    "success": true,
    "data": {
        "is_ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "Solactive Spain 40 index methodology"
        ],
        "classification": "non-complex",
        "supporting_data": "The Xtrackers Spain UCITS ETF aims to reflect the performance of the Solactive Spain 40 index, which tracks 40 major Spanish companies. The fund employs physical replication by buying a substantial number of the securities in the index. While the fund may employ derivatives for risk management, cost reduction, or improvement, the primary replication method is physical, which is generally considered non-complex. The index methodology involves a selection process based on trading frequency and market capitalization, which is transparent. The KIID classifies the fund in risk category 6, indicating potential for high losses and gains due to market volatility, but this is a market risk, not a structural complexity. Securities lending is mentioned but is a secondary feature and does not automatically trigger complexity. There is no mention of leverage or embedded derivatives. The overall structure, investment policy, and risks (market volatility, tracking error) are presented as understandable for a retail investor with basic knowledge, aligning with the non-complex classification. The Solactive Spain 40 index itself, based on the description, appears to be a straightforward equity index rather than one involving complex financial instruments or strategies."
    }
}