{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": [
            "Currency Hedging using forwards",
            "Derivative Usage for replication"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant. It aims to track the MSCI EMU 100% hedged to GBP Index (Net Return) and achieves this by investing directly and through the use of derivatives. The use of derivatives such as currency forwards for hedging and possibly swaps to replicate the index makes it complex. It is currency-hedged and there are associated hedging costs and potential mismatches in hedging. The ETF may also engage in securities lending transactions, introducing counterparty risk, although mitigated by collateral policy. Direct replication is affected by rebalancing costs and synthetic replication is affected by derivative trading costs.",
        "complex": true,
        "non_complex": false
    }
}