{
    "complex": true,
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "synthetic",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Synthetic replication using unfunded OTC swaps",
        "Potential exposure to uranium market volatility",
        "Use of futures and derivatives for investment purposes"
    ],
    "classification": "complex",
    "supporting_data": "The Global X Uranium UCITS ETF uses synthetic replication via unfunded OTC swaps and exchange-traded equity futures, which introduces counterparty risk and derivative exposure. While the fund does not employ leverage or inverse strategies, the use of derivatives for investment purposes (not just efficient portfolio management) and the potential complexity of the uranium market (including political, environmental, and operational risks) contribute to its classification as complex. The PRIIPs KID may contain additional complexity warnings, though not provided here. The fund's risk profile (category 7) and reliance on derivatives for tracking the index further support this classification.",
    "confidence": 85
}