{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Optimised index methodology",
        "ESG screening complexity",
        "Potential counterparty risk from securities lending"
    ],
    "classification": "non-complex",
    "confidence": 90,
    "supporting_data": "The ETF uses physical replication (as confirmed in the fact sheet) and does not employ leverage, inverse strategies, or synthetic replication. While it uses derivatives for efficient portfolio management (securities lending), this is not a primary strategy and does not materially alter the risk profile. The optimised index methodology and ESG screening add some complexity, but the fund remains transparent and suitable for retail investors. The risk profile (level 6) is primarily due to equity market exposure, not structural complexity. The absence of swaps, leverage, or inverse strategies further supports the non-complex classification."
}