{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": null,
    "classification": "non-complex",
    "supporting_data": "The ETF is classified as non-complex primarily because it uses physical replication and does not exhibit key complexity indicators such as leverage, inverse exposure, or significant derivative usage beyond efficient portfolio management. The fund's investment strategy focuses on actively managed investment-grade debt securities, with derivatives used only for investment purposes and efficient portfolio management, not for leverage or synthetic replication. The risk profile is moderate (category 4), and there are no mentions of structured products, capital protection mechanisms, or complex underlying assets like contingent convertible bonds. The ETF is UCITS-compliant, which generally aligns with non-complex classifications under MiFID II. While the fund may use financial derivative instruments (FDIs), these are not employed in a manner that introduces significant additional risk or complexity, as they are used for gaining exposure to underlying assets rather than for speculative or leveraged purposes.",
    "confidence": 90
}