{ "ok": true, "_meta": { "isin": "IE00B3XXRP09", "asset_scope": "UK_COMPLEX_ASSET", "policy_mode": "balanced", "policy_mode_description": "UCITS ETFs usually start from a non-complex baseline, but product-level complexity such as synthetic replication, swaps, leverage, inverse exposure, complex debt, commodity roll exposure, or comprehension warnings can override that baseline.", "classification_engine_version": "1.0.0", "prompt_version": "complex_asset_extract_v1", "captured_at_utc": "2026-06-05T15:26:49+00:00", "captured_unix": 1780673209 }, "classification": "non-complex", "confidence": 0.8, "review_required": false, "decision_rule_applied": "balanced_ucits_physical_plain_etf_priips_alert_soft_flag_rule", "product_policy_branch": "ETF", "fund_name": null, "isin": "IE00B3XXRP09", "type": "ETF", "ucits": true, "asset_class": null, "replication_method": "physical", "signals": { "leveraged": false, "inverse": false, "derivatives_mentioned": true, "derivatives_core_strategy": null, "derivatives_epm_only": null, "swaps": false, "funded_swap": false, "unfunded_swap": false, "synthetic_replication": false, "counterparty_risk": true, "structured_payoff": false, "capital_protection": false, "commodity_futures_roll": false, "contango_backwardation": false, "coco_or_at1_exposure": false, "clo_exposure": false, "complex_index": false, "priips_comprehension_alert": true, "securities_lending": false, "illiquid_or_hard_to_value_underlying": false, "physical_allocated_commodity": false, "crypto_digital_asset": false }, "complex_factors": [], "non_complex_factors": [ "UCITS fund", "Physical replication", "No leverage identified", "No inverse exposure identified", "PRIIPs comprehension alert treated as investor-understanding flag under balanced mode" ], "consumer_understanding": { "risk_level": "moderate", "drivers": [ "Counterparty risk language identified", "PRIIPs comprehension alert language", "UCITS ETF structure", "Physical replication or direct portfolio holdings" ], "plain_english_explanation": "The product is identified as a UCITS ETF using physical replication or direct portfolio holdings. No leverage, inverse exposure, synthetic replication or structured payoff was identified. Some ordinary market, credit, duration, liquidity or counterparty-risk language may still be present, but this does not by itself make the product complex.", "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment." }, "supporting_evidence": [ { "source": "PRIIPS_KID", "signal": "priips_comprehension_alert", "quote": "Document. The Fund is authorised in Ireland and has been registered for sale in other EEA Member States. VGIL is authorised in EEA Member States and regulated by the Central Bank. You are about to purchase a Fund that is not simple and may be difficult to understand. What is this product? Type: The Fund is a sub-fund of Vanguard Funds plc (\"VF\"), a UCITSThe Fund may use derivatives in order to reduce risk or cost and/or authorised by the Cent" }, { "source": "KIID", "signal": "ucits", "quote": "o help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. Vanguard S&P 500 UCITS ETF (the \"Fund\") (USD) Distributing A sub-fund of Vanguard Funds PLCISIN: IE00B3XXRP09 Manager: Vanguard Group (Ireland) Limited (\u201cVGIL\u201d) Objectives and investment policy \u2022 The" }, { "source": "KIID", "signal": "replication_method_physical", "quote": "stment policy \u2022 The Fund employs a passive management \u2013 or indexing \u2013 investment\u2022 The Fund may engage in short term secured lending of its investments to approach, through physical acquisition of securities, and seeks to track the certain eligible third parties. This is used as a means of generating performance of the Standard and Poor's 500 Index (the \u201cIndex\u201d). additional income" }, { "source": "KIID", "signal": "derivatives_mentioned", "quote": "of the Prospectus or in a separate Supplement). ETF Shares policy to avoid losses. are listed on one or more stock exchange(s). Subject to certain exceptions \u2022 The Fund may use derivatives in order to reduce risk or cost and/or set out in the Prospectus, investors who are not Authorised Participants generate extra income or growth. A derivative is a financial contr" }, { "source": "KIID", "signal": "counterparty_risk", "quote": "y lower rewards Typically higher rewardsFund's net asset value. The risk and reward indicator does not take account of the following 1 234 5 6 7risks of investing in the Fund: \u2022 Counterparty risk. The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or \u2022 This indicator is based on historical data and" } ], "supporting_data": "Balanced mode treats the PRIIPs comprehension alert as an investor-understanding flag for a plain physical UCITS ETF, not as a hard complex override. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.", "missing_data": [], "warnings": [ "counterparty_risk_language_identified", "priips_comprehension_alert_soft_flag" ], "sources": { "kiid": { "url": "https://oppl.ai/apy/doc_store/IE00B3XXRP09_KIID.txt", "found": true, "http_code": 200, "bytes": 11051, "error": null }, "priips_kid": { "url": "https://oppl.ai/eu_kiids/en_txt/IE00B3XXRP09.txt", "found": true, "http_code": 200, "bytes": 13752, "error": null }, "factsheet": { "url": "https://oppl.ai/apy/doc_store/IE00B3XXRP09_FS.txt", "found": true, "http_code": 200, "bytes": 14878, "error": null }, "market_data": { "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE00B3XXRP09&size=3", "found": true, "http_code": 200, "bytes": 702, "error": null } } }