{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "complex_factors": [
            "Currency Hedging",
            "Derivatives",
            "Swaps",
            "Counterparty Risk"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is a UCITS ETF that is hedged to GBP, aiming to reduce the impact of currency fluctuations. It tracks the MSCI Canada 100% hedged to GBP Index (Net Return). While UCITS ETFs are generally presumed non-complex, this ETF uses derivatives (currency forwards) for hedging. The ETF may also use derivatives for managing inflows/outflows or to replicate the index. This introduces counterparty risk, particularly if OTC derivatives are used, which is mitigated by UBS (Lux) Fund Solutions collateral policy. The ETF also uses swaps to gain exposure to the index, leading to a synthetic strategy. This is hard for retail investors to understand.",
        "complex": true,
        "non-complex": false
    }
}