{
    "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 Developed World UCITS ETF is a physically replicated fund that tracks a broad, liquid index of developed market equities. The KIID and factsheet indicate it uses physical replication with a representative sampling approach, which is a non-complex indicator. While the fund mentions the potential use of derivatives, it specifies these are for risk reduction or cost efficiency, not for leverage or complex strategies. The fund has no leverage, inverse exposure, or capital protection features. The risk profile (SRRI 6) is appropriate for its equity exposure and does not indicate unusual complexity. The fund is UCITS-compliant, which imposes additional investor protection requirements. The comprehensive disclosure in the KIID and factsheet provides clear information about the fund's strategy, risks, and costs.",
    "confidence": 95
}