{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Franklin STOXX Europe 600 Paris Aligned Climate UCITS ETF is a physically replicated ETF that tracks the STOXX Europe 600 Paris-Aligned Benchmark Index. The KIID and factsheet indicate that the fund uses full physical replication, meaning it directly holds the underlying securities of the index. While the fund mentions the use of derivatives for efficient portfolio management (EPM) purposes only, this is a common practice for tracking error minimization and does not introduce complexity. The fund does not employ leverage, inverse strategies, or synthetic replication. The underlying index is a standard equity index with a climate-aligned focus, which does not introduce additional complexity. The risk profile is typical for an equity ETF, with standard risks such as market, currency, and counterparty risks clearly disclosed. The fund is UCITS-compliant, which imposes strict regulatory requirements ensuring transparency and investor protection. The absence of complex features such as leverage, inverse exposure, or synthetic replication supports the classification as non-complex.",
    "confidence": 95
}