{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication with direct investments in transferable securities to track the Bloomberg Global Aggregate Index. While it may use derivatives for efficient portfolio management (EPM) such as handling inflows/outflows or improving index constituent exposure, this is explicitly permitted under MiFID II without triggering complexity. The fund has no leverage, inverse exposure, or synthetic replication. The risk profile is straightforward, with a clear objective of tracking a well-known bond index. The KIID and factsheet indicate no complex features like capital protection mechanisms, structured products, or significant counterparty risks. The fund is UCITS-compliant, which generally aligns with non-complex classifications under MiFID II.",
    "confidence": 95
}