{
    "fund_name": "AMUNDI INDEX J.P. MORGAN GBI GLOBAL GOVIES - UCITS ETF DR",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Physical replication of government bonds",
        "No leverage or inverse exposure",
        "No synthetic replication or swap usage",
        "Standard government bond index tracking"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the J.P. Morgan Government Bond Index Global (GBI Global), which consists of fixed-rate government securities. The KIID explicitly states that the exposure is achieved through direct investments in transferable securities and/or other eligible assets representing the index constituents. There is no mention of synthetic replication, swaps, leverage, or inverse exposure. The risk profile is straightforward, reflecting market risk from international government bonds. The fact sheet confirms physical replication and shows a portfolio of 1,088 government bonds with an average rating of A+. The ETF is UCITS-compliant, which typically implies a higher standard of transparency and investor protection. The absence of derivatives beyond efficient portfolio management (e.g., securities lending) and the clear, linear relationship to the underlying bond index support the non-complex classification.",
    "confidence": 95
}