{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "Derivatives, Swaps, Concentration Risk, Emerging Markets Risk, Counterparty Risk",
    "supporting_data": "The ETF is a UCITS-compliant, physically replicating fund tracking the Hang Seng TECH Index. It may use derivatives (including up to 10% in total return swaps) for efficient portfolio management and investment purposes, and may engage in securities lending (up to 30% of assets). The fund is concentrated in a limited number of technology stocks, primarily in Hong Kong, introducing concentration and emerging markets risks. The use of derivatives and swaps, even if limited, introduces counterparty risk and potential complexity in understanding the fund's risk profile for retail investors. The fund does not use leverage beyond UCITS limits, does not offer capital protection, and is not inverse. The index is transparent, but the fund's structure and risk factors (especially derivative use and concentration) may make it difficult for a retail investor with basic knowledge to fully understand the risks involved.",
    "classification": "complex"
}