{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the Solactive Paris Aware Global Government USD Index, which consists of investment-grade government bonds with a climate-aware focus. The KIID explicitly states that derivatives are only used for efficient portfolio management and currency hedging, not for leverage or synthetic replication. The fund has a straightforward index-tracking objective, invests directly in liquid government bonds, and has minimal derivative exposure. The risk profile is classified as medium (risk class 4), with no indications of complex structures or strategies. The PRIIPs KID and factsheet confirm the physical replication method and the absence of leverage or complex underlying assets.",
    "confidence": 95,
    "risk_level": 4,
    "additional_notes": "The ETF's use of derivatives is limited to efficient portfolio management and currency hedging, which does not introduce complexity under MiFID II. The underlying assets are transparent and liquid government bonds, and the fund's risk profile is clearly communicated. There are no indications of capital protection mechanisms, leverage, or complex structured products. The fund is UCITS-compliant, further supporting its classification as non-complex."
}