{
    "fund_name": "Tabula Global High Yield Fallen Angels Paris-aligned Climate UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "High yield bonds",
        "Complex index methodology",
        "ESG screening criteria"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication and does not employ leverage, inverse strategies, or swaps. While it invests in high-yield bonds and follows a complex index methodology with ESG screening, these factors do not meet the MiFID II criteria for complexity. The fund's risk profile is clearly disclosed, and the underlying assets (corporate bonds) are relatively straightforward. The use of derivatives is limited and for direct investment purposes, not for leverage or risk amplification. The index's complexity (e.g., climate alignment, fallen angels focus) does not inherently make the ETF complex under MiFID II, as the fund's structure remains transparent and understandable for retail investors.",
    "confidence": 90
}