{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a physically replicated, UCITS-compliant fund that primarily invests in global equities with an ESG focus. It uses derivatives only for efficient portfolio management (EPM), not as a core strategy. The fund has a straightforward investment objective of outperforming the MSCI World Index through active management and bottom-up stock selection. There are no indications of leverage, inverse strategies, or synthetic replication. The risk profile (category 6) is primarily due to equity market volatility rather than structural complexity. The fund's use of derivatives is limited to EPM, which does not trigger complexity under MiFID II. The ESG screening and active management do not introduce additional complexity that would make the product unsuitable for retail investors.",
    "confidence": 95
}