{
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Currency hedging using derivatives",
        "ESG index complexity",
        "Counterparty risk from derivatives"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication for the underlying index but employs derivatives for currency hedging. While derivatives are used, they are for efficient portfolio management rather than leveraged or inverse strategies. The index itself is complex (ESG-focused with exclusions), but the ETF's structure remains transparent and liquid. The use of derivatives is disclosed and limited to hedging, which does not significantly alter the risk profile. The fund is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 85
}