{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [
        "Derivative Usage for Optimization",
        "High Yield Corporate Bonds",
        "ESG/SRI Screening Complexity"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses derivatives for optimization techniques, which may include financial derivative instruments (FDIs) for direct investment purposes. While it primarily uses physical replication, the use of derivatives for optimization and the exposure to sub-investment grade high-yield corporate bonds, which are inherently complex and risky, contribute to the complexity. Additionally, the ESG/SRI screening adds another layer of complexity due to the specific criteria and exclusions applied. The risk profile is rated four, indicating higher risk, and the presence of counterparty risk from derivative usage further supports the classification as complex.",
    "confidence": 85
}