{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None identified",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant, passively managed fund that seeks to track a transparent, equity-based index (Goldman Sachs ActiveBetau00ae Paris-Aligned Sustainable U.S. Large Cap Equity Index) using physical replication, holding the underlying securities in proportions similar to the index. The fund may use derivatives only for efficient portfolio management (EPM), such as managing inflows/outflows or hedging currency risk, but derivatives are not integral to the investment objective or strategy. The risks disclosed (market risk, equity securities risk, liquidity risk, operational risk, custodian risk, sustainability risk, index tracking error risk, counterparty risk from EPM derivative use, and exchange rate risk) are typical for equity ETFs and do not indicate complex features such as synthetic replication, significant leverage, embedded derivatives, or contingent convertible bonds. The fund does not engage in securities lending to a significant degree, does not use leverage beyond UCITS limits, and does not offer capital protection with complex structures. The index is transparent and the fundu2019s holdings are disclosed daily. All these factors align with the UCITS presumption of non-complexity under MiFID II Article 25(4)(a)(iv), and no features trigger the complex classification under Article 57 of the Delegated Regulation[1]. The use of derivatives for limited EPM purposes, with associated counterparty risk, is disclosed but does not, in this case, override the UCITS non-complex presumption, as the derivatives are not central to the fundu2019s strategy and the risks are well-communicated and typical for the category."
}