{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "supporting_data": "The ETF is a UCITS-compliant, physically replicating ETF tracking a transparent equity index (MSCI EM ESG Enhanced Focus CTB Index). It aims to hold the underlying securities in similar proportions to the index. The use of derivatives is explicitly stated to be for direct investment purposes only, not as a core part of the replication strategy, and is not described as central to the fund's objective. Securities lending is present but is a secondary, well-managed feature within UCITS rules and does not dominate the risk profile. The ETF does not use significant leverage, does not embed complex derivatives (such as swaps or structured products), and does not track a complex or opaque index. The structure, risks, and investment objective are straightforward and can be understood by retail investors with basic knowledge. The ETF is listed and traded on regulated markets, with frequent liquidity and transparent pricing. All these factors support a non-complex classification under MiFID II Article 57 and the UCITS presumption, as there are no features that make the product difficult for a retail investor to understand.",
    "classification": "non-complex"
}