{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The UCITS ETF tracks the EURO STOXX 50 Index using direct replication, which is generally considered non-complex. The KIID states that the ETF's objective is to track the performance of this index and minimize tracking error. While the ETF may use derivatives for efficient portfolio management (managing inflows/outflows, hedging currency risk), this is described as a secondary use and not integral to achieving the investment objective. The use of securities lending for additional income is also mentioned, but this is a common practice that does not inherently make an ETF complex, especially when managed within UCITS rules. The risks highlighted (liquidity risk, counterparty risk, operational risk) are standard for most ETFs and do not indicate structural complexity. The underlying index is an equity index representative of leading securities in developed Eurozone countries, which is generally well-understood. There is no mention of leverage, embedded derivatives, or complex underlying assets that would make it difficult for a retail investor to understand the structure, risks, or payoff. Based on the information provided and the general principles of MiFID II complexity assessment, this ETF is classified as non-complex."
    }
}