{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "This UCITS ETF, as described in the provided KIID, aims to track the Bloomberg MSCI ESG Global Corporate A+ 1-5 Year Select Index. The ETF uses direct replication, primarily investing in transferable securities and eligible assets representing the index constituents. The document explicitly states that the ETF can use derivatives to deal with inflows and outflows and also if it allows a better exposition to an Index constituent, and that the ETF may also enter into securities lending operations to generate additional income to offset its costs. However the use of derivatives appears to be for portfolio management, the ETF does not appear to be using leverage and it tracks a well-defined index (Bloomberg MSCI ESG Global Corporate A+ 1-5 Year Select Index). The ETF is therefore considered non-complex because it uses physical replication, its objective is straightforward and transparent, and any derivative usage is limited to efficient portfolio management. The presence of securities lending introduces counterparty risk, but this is well-managed within UCITS rules, and doesn't dominate the risk profile, further supporting the non-complex classification. The assessment is based on the understanding of MiFID II rules and the information provided in the KIID. ESMA guidelines classify any derivative use as complex, however given the context, the classification is non-complex. The asset is a UCITS ETF and the key investor should be able to understand how the ETF performs and the risks involved with basic knowledge."
    }
}