{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [
        "Derivative usage for investment purposes"
    ],
    "classification": "complex",
    "supporting_data": "The ETF primarily uses physical replication but explicitly states it may use financial derivative instruments (FDIs) for direct investment purposes, not just for efficient portfolio management (EPM). The KIID mentions 'FDIs may also be used for direct investment purposes,' which suggests derivatives are part of the investment strategy rather than solely for risk management. While the ETF tracks a straightforward index (Bloomberg Barclays US Mortgage Backed Securities Index), the use of derivatives beyond EPM introduces complexity. The risk profile (rated 4) and counterparty risk disclosures further support this classification.",
    "confidence": 85
}