{
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Derivative usage for replication",
        "Counterparty risk from swaps"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication as its primary method (as confirmed in the factsheet) and only uses derivatives where necessary for efficient replication of the index. The KIID mentions potential derivative usage but does not indicate leverage or inverse strategies. The risk profile is rated 6/7, which is high but not necessarily complex. The underlying index (MSCI Japan SRI Low Carbon Select) is a standard equity index with no inherent complexity. While there is counterparty risk from potential swap usage, this is typical for UCITS-compliant ETFs and does not elevate the product to 'complex' status under MiFID II. The ETF is UCITS-compliant, which generally aligns with non-complex classification.",
    "confidence": 85
}