{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": [
            "Inflation-Linked Bonds",
            "Derivative Usage for Index Replication",
            "Counterparty Risk from OTC Derivatives"
        ],
        "classification": "complex",
        "supporting_data": "This UCITS ETF tracks the Bloomberg US Government 1-10 Year Inflation-Linked Bondu2122 Index (Total Return). While UCITS ETFs are generally presumed non-complex, this ETF uses derivatives to replicate the index's performance, which leads to a complex classification under MiFID II. The ETF uses direct investment and derivatives to achieve index replication. The KIID specifically notes the use of OTC derivatives, which introduces counterparty risk that is mitigated by collateral policy. The ETF will invest its net assets predominantly in bonds, transferable securities, money market instruments, units of undertakings for collective investment, deposits with credit institutions, structured notes listed or dealt in on a regulated market and other assets eligible under the prospectus. Even though the fund is UCITS compliant and invests in Inflation-Linked Bonds, it cannot be considered non-complex due to its use of synthetic replication which introduces counterparty and collateral risks. Also, sustainability risks are not systematically integrated as they are not considered as part of the Index selection process.",
        "complex": true
    }
}