{
    "complex": false,
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Currency hedging using derivatives",
        "ESG screening complexity"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication for its core strategy, tracking the MSCI ACWI SRI Low Carbon Select 5% Issuer Capped with Developed Markets 100% Hedged to CHF Index. While it may use derivatives for currency hedging (selling foreign currency forwards), this is a standard practice for hedged ETFs and does not introduce significant complexity. The fund's risk profile (category 6) is primarily due to equity market volatility, not derivative-related risks. The ESG screening process adds some complexity but does not make the fund inherently complex under MiFID II. The fact that it's UCITS-compliant and uses physical replication for the underlying index tracking supports the non-complex classification.",
    "confidence": 90
}