{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Franklin Euro IG Corporate UCITS ETF is classified as non-complex under MiFID II for the following reasons: 1. Physical replication: The fund invests directly in Euro-denominated investment grade corporate debt securities, with no mention of synthetic replication or swap agreements. 2. No leverage or inverse exposure: The fund does not employ any leverage or inverse strategies, and its investment objective is straightforward (income generation and capital preservation). 3. Simple risk profile: The fund's risk profile is moderate and easily understandable, with risks primarily related to credit, liquidity, and interest rate movements. 4. UCITS compliance: The fund is UCITS-compliant, which inherently limits the use of complex strategies and derivatives. 5. Transparent holdings: The fund's holdings are primarily liquid, investment-grade corporate bonds, with no exposure to complex or illiquid assets. The fact sheet confirms the fund's physical replication approach and lack of derivative usage beyond efficient portfolio management (if any). The PRIIPs KID does not contain any comprehension warnings, further supporting the non-complex classification.",
    "confidence": 95
}