{
    "fund_name": "SPDR Bloomberg Sterling Corporate Bond UCITS ETF",
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The SPDR Bloomberg Sterling 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 Sterling Corporate Bond Index, which consists of investment-grade, fixed-rate corporate bonds. While the KIID mentions the potential use of financial derivative instruments for efficient portfolio management, there is no indication of extensive or sophisticated derivative usage that would trigger complexity. The fund's risk profile (category 4) is moderate, and the underlying assets (investment-grade corporate bonds) are transparent and liquid. The fund does not employ leverage, inverse strategies, or capital protection mechanisms. The absence of synthetic replication, complex underlying assets, or structured features further supports the non-complex classification. The fund's compliance with UCITS regulations and its straightforward investment objective reinforce its suitability for retail investors.",
    "confidence": 95
}