{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": null,
    "classification": "non-complex",
    "supporting_data": "The First Trust Bloomberg Global Semiconductor Supply Chain UCITS ETF is a physically replicated, non-leveraged ETF that tracks a transparent equity index. The KIID and factsheet confirm it uses full physical replication of the Bloomberg Semiconductor Supply Chain Select Index, with no mention of synthetic replication, swaps, or derivative instruments beyond what might be used for standard efficient portfolio management. The risk level is rated 7, which is high but typical for equity ETFs in volatile sectors like semiconductors. The fund's objective, strategy, and holdings are straightforward and disclosed transparently. While the high-risk rating might suggest complexity, this is due to the underlying asset class volatility rather than structural complexity. The fund meets all criteria for non-complex classification under MiFID II.",
    "confidence": 95
}