{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": [
            "Derivatives used for replication",
            "Stratified Sampling"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant. It uses a stratified approach (stratified sampling strategy) by investing in a representative sample of components of the index selected by the portfolio manager using a 'portfolio optimisation' technique. 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. This use of derivatives to replicate the index's performance, even in combination with direct investment, makes the ETF complex due to the potential counterparty and collateral risks associated with derivatives, as well as the less transparent nature of synthetic replication compared to physical replication. The fund is using derivatives to meet its investment objective. The risk rating of 5/7 indicates that it is subject to Market Volatility. The Key Investor Document requires a comprehension alert, in light of the usage of derivatives and the lack of client knowledge and experience that can be relied upon."
    }
}