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        "Remove or downgrade unsupported contango_backwardation, or add product-specific evidence for it. This is an evidence-quality repair and does not invalidate an independently supported complex classification.",
        "Remove or downgrade unsupported contango_backwardation signal, or add product-specific evidence for it. This is an evidence-quality repair and does not invalidate the independently supported complex classification."
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        "confidence": 0.78,
        "issues": [
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                "severity": "warn",
                "code": "non_decisive_hard_signal_without_direct_evidence_contango_backwardation",
                "message": "signals.contango_backwardation=true but no supporting_evidence quote directly substantiates that hard-complex feature. The signal is not used by decision_rule_applied and classification=complex is independently supported by: synthetic_replication, commodity_futures_roll, swaps."
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            "Remove or downgrade unsupported contango_backwardation, or add product-specific evidence for it. This is an evidence-quality repair and does not invalidate an independently supported complex classification."
        ],
        "decisive_signal_evidence": {
            "checked": true,
            "decision_rule_signal": "swaps",
            "decision_rule_signal_true": true,
            "decision_rule_signal_supported": true,
            "decision_rule_matching_evidence_count": 3,
            "decision_rule_matches": [
                {
                    "index": 0,
                    "source": "FACTSHEET",
                    "evidence_signal": "synthetic_replication",
                    "quote": "Synthetic - unfunded swap backed by collateral"
                },
                {
                    "index": 1,
                    "source": "PRIIPS_KID",
                    "evidence_signal": "swaps",
                    "quote": "The Fund achieves exposure to the performance of the Index primarily through the use of financial derivative instruments, in particular total return swap agreements."
                },
                {
                    "index": 2,
                    "source": "KIID",
                    "evidence_signal": "derivatives_core_strategy",
                    "quote": "In order to provide the Share Class with exposure to the Index, the Company will primarily enter into 'total return swap' agreements with one or more 'swap counterparties'"
                }
            ],
            "true_hard_signals": [
                "synthetic_replication",
                "commodity_futures_roll",
                "contango_backwardation"
            ],
            "supported_hard_signals": [
                "synthetic_replication",
                "commodity_futures_roll"
            ],
            "unsupported_hard_signals": [
                "contango_backwardation"
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            "checks": {
                "synthetic_replication": {
                    "signal_true": true,
                    "direct_evidence": true,
                    "matching_evidence_count": 1,
                    "decision_rule_uses_signal": false,
                    "matches": [
                        {
                            "index": 0,
                            "source": "FACTSHEET",
                            "evidence_signal": "synthetic_replication",
                            "quote": "Synthetic - unfunded swap backed by collateral"
                        }
                    ]
                },
                "commodity_futures_roll": {
                    "signal_true": true,
                    "direct_evidence": true,
                    "matching_evidence_count": 1,
                    "decision_rule_uses_signal": false,
                    "matches": [
                        {
                            "index": 3,
                            "source": "KIID",
                            "evidence_signal": "commodity_futures_roll",
                            "quote": "the 'roll' return associated with periodically selling the futures contracts that are nearing their expiry dates with later-dated equivalents in order to maintain exposure to the commodity futures on an ongoing basis"
                        }
                    ]
                },
                "contango_backwardation": {
                    "signal_true": true,
                    "direct_evidence": false,
                    "matching_evidence_count": 0,
                    "decision_rule_uses_signal": false,
                    "matches": []
                },
                "swaps": {
                    "signal_true": true,
                    "direct_evidence": true,
                    "matching_evidence_count": 3,
                    "decision_rule_uses_signal": true,
                    "matches": [
                        {
                            "index": 0,
                            "source": "FACTSHEET",
                            "evidence_signal": "synthetic_replication",
                            "quote": "Synthetic - unfunded swap backed by collateral"
                        },
                        {
                            "index": 1,
                            "source": "PRIIPS_KID",
                            "evidence_signal": "swaps",
                            "quote": "The Fund achieves exposure to the performance of the Index primarily through the use of financial derivative instruments, in particular total return swap agreements."
                        },
                        {
                            "index": 2,
                            "source": "KIID",
                            "evidence_signal": "derivatives_core_strategy",
                            "quote": "In order to provide the Share Class with exposure to the Index, the Company will primarily enter into 'total return swap' agreements with one or more 'swap counterparties'"
                        }
                    ]
                }
            }
        },
        "derivative_materiality": {
            "checked": true,
            "policy_mode": "balanced",
            "type": "ETF",
            "ucits": true,
            "physical_replication": false,
            "swaps_signal": true,
            "synthetic_replication": true,
            "derivatives_core_strategy": true,
            "derivatives_epm_only": false,
            "derivative_evidence_count": 3,
            "swap_evidence_count": 3,
            "permission_or_ancillary_evidence_count": 0,
            "core_derivative_evidence_count": 2,
            "only_permission_or_ancillary_derivative_evidence": false,
            "supported_independent_hard_signals": [
                "synthetic_replication",
                "commodity_futures_roll"
            ]
        },
        "detected_features": {
            "helo_or_core_options_overlay": false,
            "physical_replication": false,
            "has_epm_only_evidence": false,
            "has_core_derivatives_evidence": true,
            "has_generic_fdi_permission_evidence": false,
            "has_option_overlay_evidence": false
        }
    },
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        "cost": {
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        "review": {
            "validator_verdict": "warn",
            "publishable": true,
            "confidence": 0.88,
            "summary": "The classification as complex under the balanced_etf_swap_complex_rule is well supported by direct product-specific evidence of swaps and synthetic replication, which are core derivative strategy signals. The decision-driving hard-complex signal 'swaps' is directly proven by multiple product-specific quotes. The derivatives_epm_only flag is false and consistent with the absence of ancillary/EPM-only evidence. There is no conflict between derivatives_epm_only and derivatives_core_strategy flags. The contango_backwardation signal is true but lacks direct supporting evidence and is not used by the decision rule, constituting an unsupported additional hard signal. This results in a warning but does not invalidate the classification or publishability. The client-facing JSON is publishable as-is. Suggested repair is to remove or provide evidence for the unsupported contango_backwardation signal to improve evidence hygiene.",
            "issues": [
                {
                    "severity": "warn",
                    "code": "non_decisive_hard_signal_without_direct_evidence_contango_backwardation",
                    "message": "signals.contango_backwardation=true but no supporting_evidence quote directly substantiates that hard-complex feature. The signal is not used by decision_rule_applied and classification=complex is independently supported by: synthetic_replication, commodity_futures_roll, swaps."
                }
            ],
            "suggested_repairs": [
                "Remove or downgrade unsupported contango_backwardation signal, or add product-specific evidence for it. This is an evidence-quality repair and does not invalidate the independently supported complex classification."
            ]
        }
    }
}