{
    "fund_name": "Global X 1-3 Month T-Bill UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF tracks the Solactive 1-3 Month US T-Bill Index using physical replication, investing directly in short-term US Treasury bills. There is no mention of synthetic replication, swaps, leverage, or complex derivatives. The risk profile is categorized as level 1, indicating low volatility and simplicity. The investment strategy is straightforward, focusing on highly liquid, short-duration government securities with minimal credit and market risk. The absence of counterparty risk, leverage, or complex financial instruments further supports the non-complex classification.",
    "confidence": 95,
    "risk_level": 1,
    "counter_argument": "None identified. The fund's structure, underlying assets, and risk profile are all consistent with non-complex classification under MiFID II."
}