{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETP",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Complex Index Structure"
        ],
        "classification": "complex",
        "supporting_data": "The product is an ETP (Exchange Traded Product) rather than a traditional ETF. It aims to provide total return exposure to the 'Solactive CWM Core Balanced Strategy Index'. The complexity arises from the nature of this index, which tracks the performance of a diversified portfolio of other ETFs/ETCs. This multi-layered structure and the potential for indirect exposure to various underlying assets, which themselves might involve derivatives or complex strategies, makes it difficult for a retail investor with basic knowledge to fully understand the product's true risk and return drivers. While the document doesn't explicitly state the use of derivatives within the ETP itself, the index composition implies a potential for embedded complexity. The KID also carries a mandatory comprehension alert: 'You are about to purchase a product that is not simple and may be difficult to understand.' This directly signals a complex classification under MiFID II. The fact that the ETP is collateralized with 'Collateralised Exchange Traded Securities' also adds a layer of structural complexity beyond a simple physical replication of an index. Although the risk indicator is medium-low (3 out of 7), the complexity assessment is driven by the structure and understandability of the underlying strategy and index, not solely by the risk level."
    }
}