{
    "success": true,
    "data": {
        "ucits": false,
        "type": "ETC",
        "leverage": false,
        "derivatives": false,
        "swaps": true,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Currency Hedging using swaps",
            "Structured as secured debt securities",
            "Exposure to foreign exchange rate fluctuations"
        ],
        "classification": "complex",
        "supporting_data": "The Royal Mint Responsibly Sourced Physical Gold GBP Hedged ETC Securities is an Exchange Traded Commodity (ETC) structured as debt securities physically backed by gold. It aims to track the spot price of physical gold while hedging GBP foreign exchange exposure, implying use of swaps or derivatives. Although it holds physical gold, the currency hedging introduces complexity. The ETC is not a UCITS but is an 'ETC' so needs evaluation."
    }
}