{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the Solactive GBS Emerging Markets Large & Mid Cap USD Index, primarily through direct investments in the underlying securities. While the KIID mentions that derivatives may be used for managing inflows/outflows or improving index exposure, this is explicitly stated as a secondary function and not a core part of the investment strategy. The risk profile is straightforward, with no leverage, inverse exposure, or complex structures. The ETF is UCITS-compliant, which generally aligns with non-complex classifications under MiFID II. The absence of synthetic replication, leverage, or complex underlying assets further supports the non-complex classification.",
    "confidence": 95
}