{
    "fund_name": "Xtrackers MSCI USA UCITS ETF 2C - EUR Hedged",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Currency hedging using derivatives",
        "Potential for tracking error due to hedging strategy"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication for the underlying MSCI USA index, which is a straightforward equity index. While it employs derivatives for currency hedging (EUR hedged), this is a common practice in ETFs and does not introduce significant complexity. The fund does not use leverage, inverse strategies, or synthetic replication. The risk profile is clearly stated as category 6 (higher risk), but this is typical for equity ETFs. The use of derivatives is limited to efficient portfolio management (currency hedging) and does not create a materially different risk profile from the underlying assets. The fund is UCITS-compliant, which further supports its non-complex classification.",
    "confidence": 90
}