{
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "ESG screening complexity",
        "Climate-aligned benchmark complexity"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI Europe Climate Paris Aligned Benchmark Select Index, which is a complex index with ESG and climate-aligned criteria. However, the ETF itself does not use swaps, leverage, or inverse strategies. The use of derivatives is limited to efficient portfolio management and does not materially alter the risk profile. The ETF is UCITS-compliant and has a straightforward structure, making it suitable for retail investors. The complexity of the underlying index does not automatically make the ETF complex under MiFID II, as the ETF's risk profile remains transparent and easily understandable.",
    "confidence": 90
}