{
    "fund_name": "iShares $ Corp Bond Enhanced Active UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Use of credit default swaps, currency swaps, futures, and forwards",
        "Counterparty risk from derivative instruments",
        "Potential complexity from quantitative models used in investment decisions"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF primarily invests in investment-grade corporate bonds and uses derivatives for efficient portfolio management rather than for leverage or complex strategies. While it does use derivatives (including swaps), these are likely for hedging or replication purposes rather than creating materially different risk profiles. The risk profile is rated 4/7, which is moderate, and the fund is UCITS-compliant, suggesting it is designed for retail investors. The use of derivatives is disclosed transparently, and the fund does not exhibit features like leverage, inverse exposure, or capital protection mechanisms that would typically trigger a 'complex' classification under MiFID II. The fact that it is an actively managed bond ETF with a straightforward objective (total return from corporate bonds) further supports the non-complex classification.",
    "confidence": 85
}