{
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Swaps for replication",
        "Derivative usage for efficient portfolio management"
    ],
    "classification": "non-complex",
    "supporting_data": "The VanEck Oil Services UCITS ETF uses physical replication as its primary method (as confirmed in the factsheet) and is UCITS-compliant. While it has permission to use derivatives (including swaps) for efficient portfolio management, the KIID and factsheet indicate these are used for replication purposes rather than for leverage or inverse strategies. The fund tracks a straightforward equity index (MarketVector US Listed Oil Services 10% Capped Index), and the underlying holdings are liquid, transparent equity securities. The risk profile is clearly disclosed, and the fund does not exhibit features like capital protection, structured returns, or significant counterparty risk that would typically trigger a 'complex' classification under MiFID II. The PRIIPs KID does not contain a comprehension warning, further supporting the non-complex assessment.",
    "confidence": 90
}