{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "complex_factors": [
            "Derivatives",
            "Currency Hedging",
            "OTC Derivatives",
            "Collateral Policy",
            "Synthetic Replication"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant but uses derivatives which could potentially affect risk due to counterparty and collateral risk. It provides exposure to the MSCI Canada 100% hedged to CHF Index (Net Return) either through direct investments and/or through the use of derivatives such as currency forwards. It uses OTC derivatives. The collateral risk is mitigated by UBS (Lux) Fund Solutions collateral policy. Derivatives are used not only for efficient portfolio management but also to take proportionate exposure to the index components when direct replication is not possible. For these reasons I classify the ETF as complex."
    }
}