{
    "complex": true,
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Use of derivatives for hedging and efficient portfolio management",
        "Potential counterparty risk from derivative usage",
        "Currency hedging complexity",
        "Investment in long-duration government bonds (25+ years)"
    ],
    "classification": "complex",
    "supporting_data": "The ETF is classified as complex primarily due to its use of derivatives for hedging and efficient portfolio management, which introduces counterparty risk. While the replication method is physical, the KIID mentions that derivatives may be used to deal with inflows/outflows and for better exposure to index constituents. The currency hedging mechanism also adds complexity. Additionally, the investment in long-duration government bonds (25+ years) introduces additional risks that may not be easily understood by retail investors. The PRIIPs KID and factsheet would need to be reviewed to confirm if there are any comprehension warnings or additional complexity indicators.",
    "confidence": 85
}