{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF employs a physical replication strategy, investing directly in equity securities to track the Solactive ETC Group Web 3.0 Index. There is no mention of synthetic replication, swaps, leverage, or inverse exposure. The fund uses securities lending, but this is a common practice and does not inherently introduce complexity. The risk profile is moderate (risk level 4), and the fund is UCITS-compliant, which generally indicates a non-complex structure. The index is rules-based and transparent, focusing on publicly listed companies in the Web 3.0 sector. While the sector itself may be volatile, the fund's structure and strategy are straightforward.",
    "confidence": 90,
    "additional_notes": "The absence of derivatives, leverage, or synthetic replication methods, combined with the physical replication approach and UCITS compliance, strongly supports the non-complex classification. The fund's risk profile and strategy are transparent and suitable for retail investors."
}