{
    "fund_name": "Global X Autonomous & Electric Vehicles UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "synthetic",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Synthetic replication using unfunded OTC swaps",
        "Potential exposure to complex thematic index components"
    ],
    "classification": "complex",
    "confidence": 85,
    "supporting_data": "The ETF uses unfunded OTC swaps for replication, which introduces counterparty risk and complexity beyond physical replication. While the fund does not employ leverage or inverse strategies, the synthetic replication method and derivative usage (including total return swaps) trigger MiFID II complexity classification. The thematic index may also contain companies with complex business models, though this is secondary to the derivative structure. The PRIIPs KID would need to be reviewed for any comprehension warnings that might further support this classification. The monthly factsheet could provide additional details on swap counterparties or roll costs that might influence the complexity assessment."
}