{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Global X Copper Miners UCITS ETF",
    "investment_objective": "To track the Solactive Global Copper Miners Total Return v2 Index by investing primarily in equity securities and derivatives replicating the index components.",
    "primary_asset_class": "Equity",
    "geographic_sector_focus": "Global copper mining industry companies listed on exchanges, including ADRs and GDRs",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fund aims to track the Solactive Global Copper Miners Total Return v2 Index primarily through investing in the underlying equity securities and depositary receipts of the index components, indicating physical replication. The KIID and PRIIPs KID documents mention the use of derivatives only for hedging currency risk or potentially to increase return, but do not indicate synthetic replication or swap usage. There is no mention of funded or unfunded swaps, total return swaps, or counterparty risk related to derivatives. The risk profile is high (7 in KIID, 5 in PRIIPs KID), reflecting sector concentration and market volatility rather than structural complexity. No leverage, inverse or amplified exposure is indicated. The charges are straightforward with no performance fees or swap fees. The underlying assets are equities in copper mining companies, which are liquid and transparent. No capital protection or structured features are present. The monthly factsheet (URL provided) confirms physical replication and no synthetic swap usage. Therefore, the ETF does not meet MiFID II criteria for complexity as it uses physical replication, has no leverage or synthetic derivatives, and invests in straightforward equity securities. The higher risk rating is due to sector concentration and market volatility, not structural complexity."
}