{
    "fund_name": "VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the Markit iBoxx EUR Liquid Sovereign Diversified 1-10 Index, which consists of euro-denominated investment-grade government bonds. The fund invests directly in the underlying securities of the index, with no mention of synthetic replication, swaps, or derivatives. The risk profile is rated at level 4, which is moderate, and the fund's investment strategy is straightforward, focusing on capital growth and income from sovereign bonds. The fact sheet confirms physical replication and UCITS compliance, with no indication of complex structures or strategies. The absence of leverage, inverse exposure, or derivative instruments supports the non-complex classification.",
    "confidence": 95
}