{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": null,
    "classification": "non-complex",
    "supporting_data": "The SPDR Bloomberg U.S. TIPS UCITS ETF is a physically replicated ETF that tracks the Bloomberg U.S. Government Inflation-Linked Bond Index using a stratified sampling approach. The KIID and factsheet indicate no use of leverage, inverse strategies, or synthetic replication. While derivatives may be used for efficient portfolio management, there is no evidence of extensive or complex derivative usage that would trigger a 'complex' classification under MiFID II. The fund invests in U.S. inflation-linked government bonds, which are transparent and liquid assets. The risk profile is moderate (category 4), and there are no capital protection mechanisms or structured features. The ETF is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 95
}