{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "FX hedging using forward contracts",
        "Potential counterparty risk from derivatives",
        "Complex index methodology (quality/momentum screening)"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication for the underlying equity exposure and employs derivatives (forward FX contracts) solely for currency hedging, which is a common and transparent practice in UCITS-compliant ETFs. The index methodology is complex but well-documented, and the fund's risk profile is clearly communicated. While there is some counterparty risk from the FX hedging, this is standard for currency-hedged ETFs and does not significantly alter the fund's risk profile. The ETF is UCITS-compliant, which inherently limits the complexity of derivative usage. The primary complexity factors are the FX hedging and the index's quality/momentum screening, but these do not meet MiFID II's threshold for 'complex' classification.",
    "confidence": 90
}