{
    "complex": false,
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Limited swap usage (up to 10%) for efficient portfolio management",
        "Complex index methodology with ESG and value factor screens",
        "Emerging markets exposure with higher volatility"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF primarily uses physical replication with limited derivative usage (up to 10% in swaps) for efficient portfolio management, not as an inherent part of the strategy. The index methodology is complex with ESG and value factor screens, but this doesn't automatically trigger complexity under MiFID II. The fund's risk profile (category 6) reflects emerging markets volatility but remains transparent. No leverage, inverse exposure, or capital protection features are present. The UCITS structure and straightforward accumulation share class further support non-complex classification.",
    "confidence": 90
}