{
    "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 Vanguard FTSE 100 UCITS ETF employs a physical replication strategy, directly investing in the constituent securities of the FTSE 100 Index. While the KIID mentions the use of derivatives, it specifies that these are used to reduce risk or cost and/or generate extra income or growth, which aligns with efficient portfolio management (EPM) rather than as a core strategy. The ETF does not exhibit leverage, inverse exposure, or synthetic replication. The risk profile is rated 6, but this is primarily due to the nature of its equity investments rather than structural complexity. The ETF is UCITS-compliant, providing additional investor protections and transparency. The absence of complex underlying assets, capital protection mechanisms, or structured features further supports the non-complex classification.",
    "confidence": 95
}