{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Franklin FTSE Emerging Markets UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Franklin FTSE Emerging Markets UCITS ETF aims to track the FTSE Emerging Index NR by holding a full replication of the underlying large and mid-cap equities in emerging markets. The KIID and PRIIPs KID confirm the fund uses physical replication with no synthetic or swap-based structures. Derivatives are only used for efficient portfolio management and hedging, not as an inherent part of the investment strategy, so derivative exposure is minimal and not complexity-driving. There is no leverage, inverse or amplified exposure. The fund invests directly in liquid equities, with no complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is medium (4/7), consistent with emerging market equity risk, but no complexity flags such as capital protection or structured features are present. Costs are straightforward with a low TER (0.11%) and no performance fees or swap fees. The factsheet confirms full physical replication and no use of swaps or synthetic replication. No counterparty risk or complex derivative risk disclosures are noted beyond normal market risks. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}