{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Core DAX UCITS ETF (DE) is a physically replicated ETF that tracks the DAX index, composed of the 40 largest and most traded German stocks. The fund uses physical replication with at least 95% of assets matching the index weighting, which is a clear indicator of a non-complex structure. While the KIID mentions the potential use of financial derivative instruments (FDIs) for efficient portfolio management, this is explicitly stated as not being for leverage or speculative purposes, but rather for operational efficiency. The fund has no leverage, no inverse exposure, and no synthetic replication. The risk profile is straightforward, with risks primarily related to equity market movements and counterparty risk from standard operational activities. The ongoing charges are low (0.16%), and the fund is UCITS-compliant, further supporting its non-complex classification. The absence of complex underlying assets, structured products, or capital protection mechanisms reinforces this assessment.",
    "confidence": 95
}