{
    "fund_name": "Fidelity EUR Corp Bond Research Enhanced PAB UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Complex Index (Paris-Aligned Benchmark)",
        "ESG/Sustainability Overlays",
        "Currency Hedging"
    ],
    "classification": "non-complex",
    "supporting_data": "The fund primarily invests in EUR-denominated investment-grade corporate bonds with a focus on ESG and Paris Agreement alignment. It uses physical replication and does not employ leverage, inverse strategies, or synthetic replication via swaps. The complexity factors are limited to the benchmark's ESG criteria and currency hedging, which are standard for bond ETFs. The fund's risk profile (risk class 4) and use of derivatives for hedging (not for leverage or amplification) align with typical non-complex ETFs. No 'comprehension warning' appears in the PRIIPs KID, and the fact sheet confirms no swap usage beyond hedging.",
    "confidence": 90
}