{
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Currency hedging using derivatives",
        "Potential counterparty risk from derivative usage",
        "Complex index methodology"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication as its primary method (as confirmed in the factsheet) and tracks a broad government bond index. While it does use derivatives for currency hedging, this is a common practice in global bond ETFs and doesn't significantly alter the risk profile. The index itself is relatively straightforward (investment-grade government bonds from developed markets). The use of derivatives is for efficient portfolio management rather than for speculative purposes. The fund is UCITS-compliant and has a transparent structure with daily liquidity. While there is some complexity from the derivative usage, it doesn't rise to the level that would make this a 'complex' product under MiFID II standards for most retail investors.",
    "confidence": 85
}