{
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Currency hedging using derivatives",
        "Investment in inflation-linked bonds",
        "Potential counterparty risk from derivatives"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication for its core investment strategy, tracking the Bloomberg World Government Inflation-Linked Bond Index. While it employs derivatives for currency hedging (USD hedged share class), this is a common practice in ETFs to manage currency risk and does not introduce leverage or inverse exposure. The underlying assets are investment-grade government inflation-linked bonds, which are relatively straightforward. The risk profile is rated 4/7, indicating moderate risk, and the fund is UCITS-compliant, suggesting it meets regulatory standards for retail investor suitability. The use of derivatives is for efficient portfolio management rather than speculative purposes, and the overall structure is transparent with clear risk disclosures. The fact sheet confirms direct physical replication, further supporting the non-complex classification.",
    "confidence": 85
}