{
    "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 UCITS ETF tracks the MSCI Japan SRI Filtered PAB Index, which is an equity index. The replication method is direct (physical). Derivatives are only mentioned as a possibility for dealing with inflows and outflows or if they allow better exposition to an index constituent, implying they are not integral to the strategy and are used for efficient portfolio management (EPM). Securities lending is also mentioned as a possibility for generating additional income, which is a common practice for UCITS ETFs and does not automatically render them complex if managed within UCITS rules. The index itself is an equity index based on large and mid-cap stocks, which is generally considered transparent. The ETF promotes ESG characteristics, which is a common feature and does not inherently imply complexity. The risk level indicated by the KID reflects market risk, not structural complexity. There is no mention of leverage, embedded derivatives, structured products, or complex underlying assets that would make it difficult for a retail investor to understand. The ETF is UCITS compliant, which inherently provides a baseline of investor protection and a presumption of non-complexity."
    }
}