{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": [
            "Bond ETF",
            "Currency Hedging using Forwards",
            "Derivatives",
            "Stratified Sampling"
        ],
        "classification": "complex",
        "supporting_data": "This is a UCITS ETF that tracks the J.P. Morgan USD EM Diversified 3% capped 1-5 Year Bond Index (Total Return) using a stratified approach, indicating a sampling strategy which may introduce complexity. The ETF takes proportionate exposure through direct investment, derivatives, or a combination of both, so it has exposure to swaps. The ETF is currency-hedged, selling currency forwards to reduce the impact of currency fluctuations which is derivative instrument. Although the ETF itself is not leveraged, the use of derivatives, swaps and synthetic replication as key parts of the investment objective makes it complex. The underlying index is a bond index, adding another level of understanding required by the investor. Investors need to understand derivative risk, roll costs and the effects of contango or backwardation if they exist.",
        "complex": true,
        "non-complex": false
    }
}