{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "leverage": false,
        "inverse": false,
        "complex_factors": [
            "ESG criteria complexity",
            "Paris Aligned Benchmark (PAB) targets"
        ],
        "classification": "non-complex",
        "supporting_data": "The ETF tracks the MSCI World SRI S-Series PAB 5% Capped index, which has a specific ESG focus and Paris Aligned Benchmark targets. While these ESG and PAB criteria add complexity to the index's methodology, the ETF itself employs full or optimized physical replication, meaning it holds the underlying securities. The Key Investor Information Document (KIID) does not indicate the use of derivatives for replication or efficient portfolio management that would introduce counterparty or collateral risk. The document also mentions a maximum tracking error of 1%, which is standard for index-tracking ETFs. The risk and reward profile indicates market risk due to investment in stocks, which is not indicative of structural complexity. Based on the information provided, the ETF's structure is primarily physical replication of a transparent index, with the complexity residing in the index's construction rather than the ETF's financial instruments or strategy. Therefore, it is classified as non-complex."
    }
}