{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None identified",
    "supporting_data": "The ETF is a UCITS-compliant, physically replicated, passive bond ETF tracking a transparent, investment-grade corporate bond index. It uses derivatives only for efficient portfolio management (EPM), not as a core strategy, and does not engage in synthetic replication, significant leverage, or hold complex structured products like CLOs. The structure, risks, and investment objective are straightforward and disclosed in the KID. Securities lending is present but managed within UCITS limits and does not dominate the risk profile. The ETF does not embed derivatives, use swaps, or have features that would make its risk or payoff difficult for a retail investor to understand. All these factors support a non-complex classification under MiFID II Article 25(4) and Article 57 criteria[1][2].",
    "classification": "non-complex"
}