{
    "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 OSSIAM US Minimum Variance ESG NR UCITS ETF is classified as non-complex under MiFID II based on the following analysis: 1) Physical replication method (confirmed in the fact sheet), 2) No leverage or inverse exposure, 3) No synthetic replication or swap agreements mentioned, 4) Straightforward equity index tracking with ESG filters, 5) UCITS compliant with transparent risk profile (risk level 4/7), 6) No capital protection or structured features, 7) No complex underlying assets mentioned. The fund uses physical replication to track the US ESG Minimum Variance Index, which is a conventional equity index with ESG screening. While the optimization process for the index may be sophisticated, this does not translate to complexity in the ETF structure itself. The fact sheet confirms no derivative usage beyond efficient portfolio management, and the KIID shows a standard equity risk profile. The absence of any swap agreements, leverage, or synthetic replication confirms this is a straightforward equity ETF.",
    "confidence": 95
}