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        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "balanced",
        "policy_mode_description": "UCITS ETFs usually start from a non-complex baseline, but product-level complexity such as synthetic replication, swaps, leverage, inverse exposure, complex debt, commodity roll exposure, or comprehension warnings can override that baseline.",
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        "captured_at_utc": "2026-06-14T10:17:53+00:00",
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    "confidence": 0.88,
    "review_required": false,
    "decision_rule_applied": "balanced_etf_swap_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Global X UK SuperDividend UCITS ETF",
    "isin": "IE000PE4R6W7",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "physical",
    "signals": {
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        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": false,
        "swaps": true,
        "funded_swap": false,
        "unfunded_swap": true,
        "synthetic_replication": false,
        "counterparty_risk": true,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
        "complex_index": false,
        "priips_comprehension_alert": false,
        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": false,
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        "crypto_digital_asset": false
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        "No inverse exposure identified"
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            "Counterparty exposure may be relevant to returns or risk",
            "Counterparty risk language identified",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings"
        ],
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        "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment."
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            "signal": "ucits",
            "quote": "Global X UK SuperDividend UCITS ETF (the 'Fund'), a sub-fund of Global X ETFs ICAV"
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            "signal": "derivatives_mentioned",
            "quote": "financial derivative instruments ('FDIs'), namely, total return 'unfunded' OTC swaps and exchange-traded equity futures for investment purposes"
        },
        {
            "source": "KIID",
            "signal": "swaps",
            "quote": "total return 'unfunded' OTC swaps"
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        {
            "source": "KIID",
            "signal": "unfunded_swap",
            "quote": "total return 'unfunded' OTC swaps"
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        {
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            "signal": "counterparty_risk",
            "quote": "Derivatives are subject to counterparty risk (including potential loss of instruments)"
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        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "The Fund may enter into securities lending transactions, investing in repurchase and reverse repurchase transactions and collective investment schemes, for the purposes of efficient portfolio management only."
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_method",
            "quote": "Physical - Full Replication"
        },
        {
            "source": "KIID",
            "signal": "asset_class",
            "quote": "investing primarily in a portfolio of equity securities"
        },
        {
            "source": "KIID",
            "signal": "investment_objective",
            "quote": "The investment objective of the Fund is to provide investment results that closely correspond, before fees and expenses, generally to the price and yield performance of the Solactive United Kingdom SuperDividend Index"
        }
    ],
    "supporting_data": "ETF has evidenced core or synthetic swap usage. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "Funded swap details (not mentioned)",
        "Detailed breakdown of derivative usage frequency"
    ],
    "warnings": [
        "counterparty_risk_language_identified"
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            "http_code": 200,
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            "http_code": 200,
            "bytes": 12987,
            "error": null
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            "found": true,
            "http_code": 200,
            "bytes": 9080,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000PE4R6W7&size=3",
            "found": true,
            "http_code": 200,
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