{
    "complex": false,
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Use of OTC swaps for replication",
        "Counterparty risk exposure",
        "Potential for tracking error"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication as its primary method but employs OTC swaps with Morgan Stanley and Societe Generale for efficient portfolio management. While this introduces counterparty risk, the exposure is limited to 10% of total assets per counterparty, in line with UCITS guidelines. The fund tracks a straightforward inflation-linked bond index with no leverage or inverse strategies. The risk profile is rated as low (SRRI 1), and the tracking error is minimal (0.04-0.05%). The use of derivatives is for efficient replication rather than speculative purposes, and the overall structure remains transparent and suitable for retail investors. The fact that it's UCITS-compliant further supports its non-complex classification.",
    "confidence": 90
}