{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Limited swap usage (up to 15%)",
        "Complex index methodology (ESG/low carbon screening)",
        "Emerging market exposure"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF primarily uses physical replication (as confirmed in the fact sheet) with limited derivative usage (up to 15% in swaps) for efficient portfolio management. The derivatives are used for hedging and risk management rather than as an inherent part of the strategy. The index tracked is complex due to ESG/low carbon screening, but the fund's structure remains straightforward. The risk profile is clearly disclosed, and the fund is UCITS-compliant, indicating suitability for retail investors. The limited swap usage (not exceeding 5% in practice) and absence of leverage or inverse strategies further support the non-complex classification.",
    "confidence": 85
}