{
    "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, UCITS-compliant fund that invests in high-yield corporate bonds aligned with the Paris Agreement. It uses derivatives only for efficient portfolio management and currency hedging, not for leverage or synthetic replication. The fund has a straightforward investment objective, a clear benchmark (Solactive Paris Aligned Global Corporate High Yield USD Index), and a risk profile of 4 out of 7, indicating moderate risk. There are no indications of complex structures, leverage, or inverse strategies. The KIID and factsheet do not mention any complex underlying assets or sophisticated strategies that would require specialist knowledge.",
    "confidence": 95,
    "risk_level": 4,
    "additional_notes": "The fund's use of derivatives is limited to efficient portfolio management and hedging, which does not trigger complexity under MiFID II. The fund's alignment with the Paris Agreement and its ESG focus do not introduce additional complexity. The fund's risk profile and investment strategy are transparent and suitable for retail investors."
}