{
    "complex": true,
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "synthetic",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Swap usage",
        "Covered call strategy",
        "Derivative risk exposure"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses synthetic replication via swaps to track the CBOE NASDAQ-100 BuyWrite V2 UCITS Index, which involves a covered call strategy. The KIID explicitly mentions swap counterparty risk and derivative risk, indicating complexity. The PRIIPs KID may contain additional complexity warnings, and the fact sheet would likely confirm swap usage and derivative exposure. While the ETF is UCITS-compliant and does not use leverage or inverse strategies, the reliance on swaps and derivatives for replication triggers the 'complex' classification under MiFID II.",
    "confidence": 85
}