{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "synthetic",
    "complex_factors": [
        "Swaps",
        "Counterparty Risk",
        "Synthetic Replication"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses synthetic replication via a swap agreement with UBS as the counterparty, which introduces counterparty risk and complexity. The KIID explicitly mentions the use of financial derivative instruments (FDIs) and the swap structure, where the performance of the MSCI China A Index is swapped from UBS to the fund. This synthetic replication method, along with the associated counterparty risk, makes the product complex under MiFID II. Additionally, the fund's risk profile is rated at level 6, indicating higher risk, and the extensive disclosures around counterparty risk further support the complex classification.",
    "confidence": 95
}