{
    "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 physically replicated, actively managed fund that invests directly in equities to achieve its objective of outperforming the MSCI World SRI EU PAB Overlay ESG Custom Index. While the KIID mentions the potential use of derivatives for efficient portfolio management (EPM), this is a common practice and does not inherently make the product complex under MiFID II. The fund does not employ leverage, inverse strategies, or synthetic replication. The risk profile (category 6) is high due to equity market volatility, but this is typical for equity ETFs and does not indicate structural complexity. The fund is UCITS-compliant, which imposes additional investor protection and transparency requirements. The factsheet confirms a straightforward enhanced index approach with no indications of complex strategies or instruments.",
    "confidence": 95
}