{
    "type": "ETF",
    "ucits": true,
    "fund_name": "VanEck Sustainable Future of Food UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The VanEck Sustainable Future of Food UCITS ETF is a UCITS-compliant ETF that primarily uses physical replication to track the MVIS Global Future of Food ESG Index by investing directly in underlying equity securities, including ADRs and GDRs. The KIID and PRIIPs KID confirm that while the Fund may use derivatives such as futures, options, swaps, currency forwards, and non-deliverable forwards, these are used for efficient portfolio management or hedging rather than as an inherent part of the investment strategy, thus derivatives exposure is minimal and not a complexity driver. There is no mention of synthetic replication, funded or unfunded swaps, or significant counterparty risk. The Fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is moderate (risk level 4 out of 7 in PRIIPs KID, 6 out of 7 in KIID but this is due to equity market volatility and sector concentration, not complexity). Costs are straightforward with a single ongoing charge of 0.45%, no performance fees, and no complex fee structures. The monthly factsheet confirms physical full replication, no use of swaps or synthetic structures, and a portfolio of 35 liquid equity holdings. There are no capital protection or structured features. No complexity flags such as capital guarantees, barrier options, or contingent return formulas are present. The PRIIPs KID does not carry a comprehension warning. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}