{
    "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 0-3 Year 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 0-3 Euro Corporate Bond Index, which consists of investment-grade, Euro-denominated corporate bonds with maturities of less than 3 years. The KIID explicitly states that the fund invests primarily in securities included in the index and may use financial derivative instruments only for efficient portfolio management, not as a core strategy. The risk profile is low (category 2), and there are no indications of leverage, inverse exposure, or capital protection mechanisms. The fund is UCITS-compliant, further supporting its non-complex classification. While derivatives are permitted, their use is limited to managing the portfolio efficiently, not as a primary investment strategy, which aligns with non-complex criteria under MiFID II.",
    "confidence": 95
}