{
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Derivatives for hedging",
        "Concentration risk in copper mining sector"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the Solactive Global Copper Miners Total Return v2 Index, primarily investing in equity securities and ADRs/GDRs of copper mining companies. While it may use derivatives (FDIs) for hedging currency risk, there is no indication of synthetic replication, leverage, or inverse strategies. The risk profile (category 7) is primarily driven by sector concentration and commodity price volatility, not structural complexity. The UCITS-compliant structure and transparent index-tracking approach align with non-complex classification under MiFID II.",
    "confidence": 90
}