{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": [
            "Currency Hedging using derivatives",
            "Use of derivatives for proportionate exposure",
            "Bond ETFs can be complex due to credit risk"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant and therefore generally presumed non-complex. However, derivatives are used for currency hedging, and to achieve proportionate exposure to the index components. The ETF tracks the Bloomberg US Liquid Corporatesu2122 Index, implying corporate bond exposure which carries credit risk. Though the KIID suggests this is 'low to medium' it remains a potential source of complexity. The fund uses a 'portfolio optimization' technique suggesting it does not fully replicate its index. All of these factors lead to a classification of complex. The document also makes reference to other asset backed securities and mortgage backed securities, even though they do not directly apply here. They still can imply a greater complexity than some other ETF assets.",
        "complex": true,
        "non-complex": false
    }
}