{
    "fund_name": "First Trust Bloomberg Global Semiconductor Supply Chain UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Complex Index",
        "High Risk Profile (SRRI 7)"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the Bloomberg Global Semiconductor Supply Chain Index, which is a modified market capitalization index of semiconductor supply chain companies. There is no mention of synthetic replication, swaps, or leverage in the KIID or fact sheet. The fund holds equity securities directly and does not use derivatives for investment purposes. The risk profile is high (SRRI 7), but this is due to the underlying equity market exposure rather than structural complexity. The index itself is not inherently complex, as it is a straightforward market-cap-weighted index of semiconductor companies. The fund is UCITS-compliant, which typically indicates a lower level of complexity. The only potential complexity factor is the high-risk profile, but this does not trigger a 'complex' classification under MiFID II, as complexity is determined by structural features rather than risk level alone.",
    "confidence": 90
}