{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "representative",
        "complex_factors": "Derivative usage, stratified approach/portfolio optimisation and impact on risk-return profile, Counterparty risk due to derivatives.",
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant, it uses a representative sampling approach to track the Bloomberg US Liquid Corporates 1-5 Year Index. The ETF uses derivatives. The proportionate exposure by the Fund to the component securities will be substantially achieved either through direct investment or through the use of derivatives or through a combination of both techniques. The ETF will not enter into any securities lending. Risk factor description includes the potential loss due to failure of counterparty in the event of derivative usage. The ETF invests in fixed income securities with potential credit risk. Index tracks investment grade bonds with low to medium credit risk. A stratified approach employing a portfolio optimisation technique is used to select the sample. This approach can be less straightforward for retail investors than full replication. Therefore, despite the UCITS compliance, the derivative usage and representative replication methods contribute to a complex classification under MiFID II, due to a client's potential lack of easy understanding."
    }
}