{
    "fund_name": "SPDR Bloomberg 1-3 Month T-Bill UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The SPDR Bloomberg 1-3 Month T-Bill UCITS ETF is classified as non-complex under MiFID II regulations. The fund uses physical replication via stratified sampling to track the Bloomberg US Treasury Bills 1-3 Month Index (MXN Hedged). It invests directly in U.S. Treasury Bills with maturities between 1 and 3 months, which are highly liquid and transparent assets. While the fund may use derivatives for efficient portfolio management (e.g., currency hedging), these are not used for leverage or complex strategies. The risk profile is low (category 1), and the fund does not employ synthetic replication, leverage, or inverse strategies. The underlying assets are straightforward government securities, and the fund's objective is clearly aligned with its index-tracking strategy. The KIID and factsheet confirm no use of swaps, unfunded derivatives, or complex financial instruments. The fund's simplicity, transparency, and low-risk nature support its non-complex classification.",
    "confidence": 95
}