{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Use of financial derivative instruments (FDIs) for direct investment purposes",
        "Counterparty risk from derivative usage",
        "Complex ESG screening methodology in the index"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication as its primary method, with derivatives only used for direct investment purposes (not for leverage or synthetic replication). The fund's risk profile is rated 2/7, indicating relatively low complexity. While there is some counterparty risk from derivative usage, it's not the primary strategy. The ESG screening adds complexity to the index construction but doesn't make the fund inherently complex. The fund's straightforward fixed income focus and accumulation structure support a non-complex classification.",
    "confidence": 85
}