{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI World Quality ESG UCITS ETF",
    "investment_objective": "To replicate the performance of the MSCI World Quality Low Carbon SRI Screened Select Index by buying all or a substantial number of the securities in the index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global Developed Markets (Large and Mid Cap companies)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the MSCI World Quality Low Carbon SRI Screened Select Index by direct purchase of underlying securities, as confirmed by the factsheet stating 'Direct Replication (physically)'. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or factsheet. The fund may use derivatives only for risk management purposes, which does not trigger complexity under MiFID II. There is no leverage, inverse exposure, or capital protection features. The underlying assets are large and mid-cap equities from developed markets, which are liquid and transparent. The risk profile is medium (4 out of 7), consistent with a standard equity ETF. Costs are straightforward with a single ongoing charge of 0.25% and no performance fees or swap fees. No complex structured products or contingent bonds are held. The PRIIPs KID does not contain any comprehension warnings or complexity flags. The fund is UCITS compliant and open-ended with daily liquidity. Therefore, the ETF does not meet the MiFID II criteria for a complex financial instrument."
}