{
    "fund_name": "Vanguard FTSE Developed World UCITS ETF (USD) Distributing",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF employs a physical replication strategy to track the FTSE Developed Index, investing in a representative sample of large and mid-sized company stocks in developed markets. While the KIID mentions the potential use of derivatives for risk reduction, cost management, or income generation, there is no indication of extensive or complex derivative usage. The fund does not employ leverage, inverse strategies, or synthetic replication. The risk profile is rated 6 (moderate to high), primarily due to equity market risks, but this does not indicate complexity under MiFID II. The fund is UCITS-compliant, which typically aligns with non-complex classification. The fact sheet confirms physical replication and does not highlight any swap or derivative usage beyond standard hedging or efficient portfolio management. The absence of complex factors such as contingent convertible bonds, structured products, or capital protection mechanisms further supports the non-complex classification.",
    "confidence": 95
}