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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": "2026-06-10T05:50:54+00:00",
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    "product_policy_branch": "ETF",
    "fund_name": "First Trust Vest U.S. Equity Moderate Buffer UCITS ETF - August",
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    "type": "ETF",
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    "asset_class": "Equity",
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        "inverse": false,
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        "unfunded_swap": false,
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        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
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        "securities_lending": false,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
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        "No leverage identified",
        "No inverse exposure identified"
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        "drivers": [
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            "Structured payoff mechanics",
            "Returns may depend on conditional payoff features",
            "Derivatives appear core to the investment strategy"
        ],
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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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            "quote": "The Fund will primarily invest in financial derivative instruments for investment purposes."
        },
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            "signal": "synthetic_replication",
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        },
        {
            "source": "KIID",
            "signal": "structured_payoff",
            "quote": "providing a buffer (before fees and expenses) against the first 15% of Index losses"
        }
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    "supporting_data": "Hard complex product feature identified: Structured payoff. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: synthetic.",
    "missing_data": [],
    "warnings": [],
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            "bytes": 12874,
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        "market_data": {
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            "found": true,
            "http_code": 200,
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