{
    "fund_name": "L&G ROBO Global Robotics and Automation UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the ROBO Global Robotics and Automation UCITS Index, investing directly in the underlying securities. While the KIID mentions the possibility of using financial derivative instruments (FDIs), it specifies these would be for investments based on the index constituents or similar technology companies, not for leverage or synthetic replication. The primary risk factors relate to market, sector, and liquidity risks typical of equity investments rather than structural complexity. The risk rating of 7 is high but reflects the volatility of the technology sector rather than structural complexity. The factsheet confirms full physical replication and provides transparent information about the index composition and methodology.",
    "confidence": 95,
    "counter_argument": "The mention of FDIs in the KIID could suggest potential complexity. However, the factsheet clarifies that the ETF uses full physical replication, and the FDIs are likely used minimally for efficient portfolio management rather than as a core strategy. The overall structure remains straightforward and transparent, aligning with non-complex classification criteria."
}