{
    "fund_name": "Xtrackers Spain UCITS ETF",
    "isin": "LU0994505336",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the Solactive Spain 40 Index, which consists of 40 major Spanish equities. The KIID and factsheet confirm direct investment in the underlying securities with no mention of synthetic replication, swaps, or leverage. The fund's risk profile (category 6) reflects the volatility of Spanish equities but does not indicate structural complexity. Derivatives are only mentioned for risk management (not core strategy), and securities lending is minimal (0.0107% annual return). The index methodology is straightforward (free-float adjusted market cap weighting), and the fund's costs (0.30% TER) are transparent. No capital protection, inverse exposure, or complex structured features are present. The PRIIPs KID and factsheet reinforce this assessment, with no 'comprehension warning' or additional complexity flags.",
    "confidence": 95
}