{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI EMU ESG Broad CTB Select Net Total Return Index, with direct investments in transferable securities representing the index constituents. While derivatives may be used for managing inflows/outflows and securities lending, there is no indication of synthetic replication, leverage, inverse exposure, or complex structured products. The risk profile is straightforward (equity market risk), and the fund is UCITS-compliant, designed for retail investors. The absence of leverage, inverse strategies, or complex derivatives (e.g., swaps, contingent bonds) supports a non-complex classification under MiFID II.",
    "confidence": 95
}