{
    "fund_name": "Xtrackers CAC 40 UCITS ETF",
    "isin": "LU0322250985",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "risk_level": 6,
    "supporting_data": "The Xtrackers CAC 40 UCITS ETF uses physical replication to track the CAC 40 index, which consists of liquid, large-cap French equities. The KIID explicitly states that derivatives may be used for risk management, cost reduction, and efficiency improvements, but not as a core part of the investment strategy. The fund does not employ leverage, inverse strategies, or synthetic replication. The risk level is classified as 6 due to the volatility of equity markets, but this is typical for equity ETFs and does not indicate complexity. The fund is UCITS-compliant, which imposes strict transparency and liquidity requirements. The factsheet confirms direct replication and does not mention any complex structures or derivatives beyond standard risk management. The absence of capital protection features, structured products, or illiquid assets further supports the non-complex classification.",
    "confidence": 95
}