{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The L&G US Equity UCITS ETF is a physically replicated, UCITS-compliant ETF that tracks the Solactive Core United States Large & Mid Cap Index. The KIID and PRIIPs KID confirm physical replication ('The Fund will primarily invest directly in the securities represented in the Index in similar proportions to their weightings in the Index'). There is no mention of synthetic replication, swaps, leverage, or inverse strategies. The fund's risk profile (rated 6/7) is consistent with broad equity market exposure, and the risk disclosures focus on standard equity market risks rather than derivative-specific risks. The fact sheet further confirms physical replication and a straightforward index-tracking approach. No complexity indicators (e.g., capital protection, structured products, or contingent bonds) are present.",
    "confidence": 95
}