{
    "type": "ETC",
    "ucits": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Physical Gold EUR Hedged ETC is a physically backed gold product with no leverage, inverse exposure, or synthetic replication. It uses physical gold as the underlying asset and employs a currency hedging overlay to mitigate EUR/USD exchange rate risk, which is a common and straightforward hedging practice. The risk indicator is 4 out of 7, indicating medium risk, and there are no mentions of complex structures, derivatives beyond hedging, or illiquid assets. The product is transparent, with clear exposure to gold prices and no capital protection mechanisms or structured features. The costs are straightforward, with no performance fees or complex fee structures. The ETC is intended for retail investors and provides adequate public information, aligning with MiFID II non-complex criteria.",
    "confidence": 95
}