{
    "fund_name": "SPDR S&P Developed Quality ARISTOCRATS UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "inverse": false,
    "derivatives": false,
    "swaps": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant, physically replicated fund tracking the S&P Developed Quality FCF Aristocrats Index. It invests primarily in large and mid-sized equities in developed markets, with no leverage, inverse exposure, or synthetic replication. The fund uses derivatives only for efficient portfolio management (not as an inherent element of the strategy), and there are no complex structured features, capital protection mechanisms, or significant counterparty risks. The index methodology is transparent, focusing on quality characteristics based on free cash flow and return on invested capital. The fund's risk profile (category 6) is clearly disclosed, and there are no indications of complexity beyond standard equity market risks. The PRIIPs KID and fact sheet confirm the straightforward nature of the investment strategy.",
    "confidence": 95
}