{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": null,
    "classification": "non-complex",
    "supporting_data": "The iShares Global Aggregate Bond ESG SRI UCITS ETF EUR Hedged (Acc) is classified as non-complex under MiFID II regulations. The ETF uses physical replication to track the Bloomberg MSCI Global Aggregate Sustainable and Green Bond ESG SRI Index, investing directly in fixed-income securities. While the KIID mentions the use of financial derivative instruments (FDIs) for currency hedging and efficient portfolio management, these are used for risk management rather than as an inherent element of the investment strategy. The ETF does not employ leverage, inverse strategies, or synthetic replication. The risk profile is rated at level 4, which is moderate, and the underlying assets are transparent and liquid investment-grade bonds. The ETF is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 95
}