{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Active management",
        "Currency hedging",
        "ESG integration"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF is classified as non-complex under MiFID II for the following reasons: 1) It uses physical replication for its core investment strategy, primarily investing in global government bonds. 2) While it mentions the potential use of derivatives for efficient portfolio management, there is no indication of extensive or complex derivative usage that would trigger complexity classification. 3) The currency hedging is straightforward and does not involve complex structures. 4) The active management and ESG integration do not inherently make the product complex for retail investors. 5) The risk profile (category 4) is moderate and clearly disclosed. 6) There are no signs of leverage, inverse strategies, or capital protection features. The fact that it's a UCITS-compliant ETF further supports the non-complex classification.",
    "confidence": 90
}