{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "No leverage or inverse exposure",
        "Physical replication method",
        "No swap agreements or derivative instruments",
        "Straightforward equity investment strategy",
        "No capital protection mechanisms"
    ],
    "classification": "non-complex",
    "supporting_data": "The Ossiam US ESG Low Carbon Equity Factors UCITS ETF is classified as non-complex under MiFID II. The fund uses physical replication to track its investment objective, with no leverage, inverse exposure, or derivative instruments. The strategy involves investing in a selection of US equities based on ESG criteria and equity factors (Momentum, Size, Value, and Volatility). The fund does not use synthetic replication, swaps, or other complex structures. The risk profile is medium-high (risk class 5), but the risks are clearly disclosed and the fund's strategy is transparent. The fund is UCITS-compliant, which further supports its non-complex classification.",
    "confidence": 95
}