{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The First Trust SMID Rising Dividend Achievers UCITS ETF is a UCITS-compliant equity ETF that physically replicates the Nasdaq US Small Mid Cap Rising Dividend Achievers Index. The KIID and PRIIPs KID documents confirm the fund invests primarily in equity securities included in the index, using full physical replication or direct holdings of underlying securities and depositary receipts where direct investment is not possible. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments as part of the investment strategy. The fund does not employ leverage, inverse exposure, or capital protection mechanisms. The risk indicator is moderate (5 out of 7), reflecting equity market risk rather than complexity. The fact sheet confirms physical full replication, no use of derivatives or swaps, and a straightforward index-tracking objective. Costs are simple with no performance fees or swap fees. There are no complex underlying assets such as contingent convertible bonds or CLOs. The fund\u2019s strategy and structure are transparent and linear, with no complex features or counterparty risk beyond normal market risks. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}