{
    "fund_name": "SPDR MSCI Europe Financials UCITS ETF",
    "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 MSCI Europe Financials 35/20 Capped Index, which consists of large and mid-sized European financial companies. The fund does not employ leverage, inverse strategies, or derivatives beyond what is necessary for efficient portfolio management. The risk profile is clearly stated as category 7, reflecting high volatility typical of financial sector equities. The fund's charges are straightforward (0.18% TER), and there are no complex structures like capital protection or structured products. The underlying index is a standard market-cap-weighted equity index, and the fund's holdings are transparent and liquid. The PRIIPs KID and fact sheet confirm no additional complexity factors.",
    "confidence": 95
}