{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Derivatives used for efficient portfolio management can still be flagged as complex",
            "Currency hedging using forwards introduces counterparty risk"
        ],
        "classification": "complex",
        "supporting_data": "This UCITS ETF primarily invests in US Treasury Bonds. While it aims for physical replication, it may use derivatives for efficient portfolio management and currency hedging. The currency hedging involves selling currency forwards, which introduces counterparty risk that, whilst mitigated, contributes to a complex classification. While the objective is to track a transparent index, the use of derivatives, even for hedging, can make it difficult for retail investors to fully understand the risks involved."
    }
}