{
    "fund_name": "Vanguard FTSE Developed World UCITS ETF (USD) Accumulating",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the FTSE Developed Index through direct investment in a representative sample of index constituent securities. While it mentions the possibility of using derivatives for risk reduction or cost management, there is no indication of synthetic replication, leverage, inverse strategies, or complex structured products. The risk profile is rated 6 (moderate-high) but this is typical for equity-based ETFs and does not indicate complexity. The fund's straightforward indexing approach, transparency, and UCITS compliance align with non-complex classification under MiFID II.",
    "confidence": 95
}