{
    "fund_name": "VanEck Global Real Estate UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Complex Index (GPR Global 100 Index)",
        "Industry/Sector Concentration Risk",
        "Foreign Currency Risk"
    ],
    "classification": "non-complex",
    "supporting_data": "The VanEck Global Real Estate UCITS ETF is a physically replicated ETF that invests in the underlying securities of the GPR Global 100 Index. It does not use derivatives, swaps, or leverage. The fund's primary complexity factors are the concentration risk of the real estate sector and foreign currency exposure. The index itself is not inherently complex, and the fund's structure is straightforward, making it suitable for retail investors. The fund's risk profile is clearly disclosed, and it is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 95
}