{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The ETF tracks the Euronext Low Carbon 100 Europe PABu00ae (NTR) index using either full replication (holding the index's shares) or optimized replication (holding a sample of shares). The KID states that the ETF aims to comply with the Paris Aligned Benchmark (PAB) targets by reducing carbon intensity by at least 50% relative to the initial investment universe and achieving an additional decarbonisation target of 7% each year, the extra-financial strategy of the Index may comprise methodological limitations such as the risk related to ESG investment or the Index rebalancing. The ETF is not structured in a complex way, it uses physical replication and its risks are linked to market volatility, tracking error and the index methodology, which the KID says retail investors can understand easily. This structure aligns with the characteristics of a non-complex UCITS ETF under MiFID II guidelines.  The ESMA document states that UCITS are classified as non-complex, if the structure is not too complex."
    }
}