{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "synthetic",
        "derivatives": true,
        "swaps": true,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "Total Return Swaps (Synthetic Replication)",
            "Counterparty Risk",
            "Collateral Risk"
        ],
        "supporting_data": "The ETF uses an indirect replication method via an over-the-counter swap contract (Financial Derivative Instrument) to track the Solactive Fed Funds Effective Rate Total Return index. This reliance on swaps for replication is a primary indicator of complexity under MiFID II due to the inherent counterparty and collateral risks, which are not easily understood by retail investors. While the underlying index relates to a money market rate, the synthetic replication mechanism itself introduces complexities that shift the classification from the default non-complex UCITS presumption.",
        "classification": "complex"
    }
}