{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "complex_factors": "The ETF is directly replicating the index through physical replication using direct investments, which is generally considered non-complex.",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "supporting_data": "The provided KID document indicates that the ETF uses a direct replication method, investing directly in the securities of the MSCI Europe Index. It mentions the use of derivatives for managing inflows/outflows and potentially for better exposure to index constituents, which, if limited to EPM, should not automatically classify it as complex. The document states the fund's objective is to track the performance of the index as closely as possible. The fund is exposed to market risk, however is not stated as using any methods that would make it complex under MiFIDII. This would need to be verified against any further prospectus information to confirm if there is indeed limited usage of derivatives for EPM only.",
        "classification": "non-complex"
    }
}