{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Vanguard Global Aggregate Bond UCITS ETF employs a physical replication method, directly investing in a representative sample of bonds to track the Bloomberg Global Aggregate Float Adjusted and Scaled Index. While the KIID mentions the potential use of derivatives for risk reduction, cost management, or income generation, there is no indication of extensive or complex derivative usage. The fund's risk profile (SRRI 4) is moderate, and the underlying assets are primarily investment-grade bonds, which are generally considered transparent and liquid. The fund does not employ leverage, inverse strategies, or synthetic replication, and there are no indications of complex structured products or capital protection mechanisms. The use of derivatives is limited to efficient portfolio management rather than as a core strategy, aligning with MiFID II's criteria for non-complex instruments.",
    "confidence": 95
}