{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Interest rate hedging via US Treasury bond futures",
        "Use of derivatives for hedging",
        "Counterparty risk from derivatives"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF primarily uses physical replication for the underlying corporate bonds and employs US Treasury bond futures for interest rate hedging. While derivatives are used, they are for efficient portfolio management (hedging) rather than for leverage or complex strategies. The risk profile is rated 4 (moderate), and the documentation emphasizes transparency. The use of derivatives is straightforward and does not create materially different risks from the underlying assets. The ETF is UCITS-compliant, which typically aligns with non-complex classification under MiFID II.",
    "confidence": 85
}