{
    "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 SPDR Bloomberg Euro Corporate Bond UCITS ETF is classified as non-complex under MiFID II regulations. The fund uses physical replication via stratified sampling to track the Bloomberg Euro Corporate Bond Index, which consists of investment-grade, Euro-denominated corporate bonds. While the KIID mentions the potential use of financial derivative instruments for efficient portfolio management, there is no indication of synthetic replication, leverage, or complex strategies. The fund's risk profile is categorized as level 3, indicating moderate risk without excessive complexity. The absence of leverage, inverse exposure, or capital protection mechanisms further supports the non-complex classification. The fund's straightforward investment objective, transparent underlying assets, and adherence to UCITS regulations reinforce its suitability for retail investors.",
    "confidence": 95
}