{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The Finamex Mexico S&P/BMV International UMS Sovereign Bond 5-10yr UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, rules-based sovereign bond index. It does not use derivatives for investment objectives, does not employ leverage beyond UCITS limits, and does not hold structured products, swaps, or other complex instruments. The ETF's structure, risks, and investment policy are straightforward and disclosed in the KID, making it easily understandable for retail investors with basic knowledge. Under MiFID II, all UCITS are automatically non-complex unless they are structured UCITS or use complex portfolio management techniques, which is not the case here[1][2]. The ETF's risk profile reflects market and credit risk of sovereign bonds, not structural complexity. There is no evidence of embedded derivatives, contingent convertible bonds, or other features that would trigger a complex classification under Article 57 of the MiFID II Delegated Regulation."
}