{
    "fund_name": "Tabula FTSE Indian Government Bond Short Duration UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication with a sampling strategy and has limited use of financial derivative instruments (FDIs) for direct investment purposes. It tracks a straightforward government bond index (FTSE Indian Government Bond FAR Short Duration Capped Index) with no leverage, inverse exposure, or complex structures. The risk profile is moderate (rated 3), and there are no capital protection mechanisms or structured features. While counterparty risk is mentioned, it is standard for UCITS ETFs and does not indicate complexity. The ETF is UCITS-compliant, which generally aligns with non-complex classifications under MiFID II.",
    "confidence": 90,
    "counter_argument": "The KIID states that the ETF 'may not be appropriate for short-term investment,' which could suggest some complexity. However, this is a standard disclosure for bond ETFs and does not inherently indicate a complex structure. The use of derivatives is explicitly stated to be limited, and the replication method is physical, reinforcing the non-complex classification.",
    "risk_level": "moderate"
}