{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "synthetic",
        "derivatives": true,
        "swaps": true,
        "leverage": false,
        "inverse": false,
        "complex_factors": [
            "Swaps",
            "Counterparty Risk",
            "Collateral Risk"
        ],
        "classification": "complex",
        "supporting_data": "The ETF uses an 'Indirect Replication methodology' which involves investing in a total return swap (financial derivative instrument) to deliver the performance of the index. The document explicitly states that 'Derivatives are integral to the Sub-Fund's investment strategies.' This reliance on derivatives, specifically total return swaps, introduces counterparty risk and collateral risk, which are difficult for retail investors to understand, thus classifying the ETF as complex according to MiFID II rules. The presence of swaps makes the instrument complex, as noted in the overarching MiFID II complexity assessment rules and the provided ESMA guidelines."
    }
}