{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a physical replication fund with a clear investment objective of tracking the MSCI Emerging Markets SRI EU PAB Overlay ESG Custom Index. It uses a fundamental, bottom-up stock selection process and does not employ leverage, inverse strategies, or complex derivatives. The fund's risk profile is transparent, with a risk rating of 6 primarily due to emerging market exposure rather than structural complexity. While derivatives may be used for efficient portfolio management, this is a standard practice and does not introduce material complexity. The fund is UCITS-compliant, which further supports its non-complex classification under MiFID II.",
    "confidence": 95
}