{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Tabula GCC Sovereign USD Bonds UCITS ETF uses physical replication to track the ICE Gulf Cooperation Council Government Bond ex-144a Index. It employs a sampling strategy but does not use derivatives, swaps, or leverage. The underlying assets are sovereign bonds and Sukuks, which are relatively straightforward fixed-income instruments. The risk profile is rated 4, which is moderate, and the KIID does not indicate any complex features such as capital protection mechanisms or structured products. The ETF is UCITS-compliant, which generally implies a higher level of investor protection and transparency. The use of derivatives is not mentioned beyond standard counterparty risk disclosures, which are typical for any fund holding securities in custody. The ETF's strategy is transparent, and the risks are clearly disclosed without any indications of complexity beyond standard bond market risks.",
    "confidence": 95
}