{
    "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 Emerging Markets Index, with direct investments in transferable securities representing the index constituents. While it may use derivatives for managing inflows/outflows and securities lending, these are not core to the investment strategy. The fund has a straightforward equity exposure with no leverage, inverse strategies, or complex structured features. The risk profile aligns with typical emerging markets equity risk, and the documentation does not indicate any complexity triggers under MiFID II. The UCITS compliance and physical replication method further support the non-complex classification.",
    "confidence": 95
}