{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Sprott Uranium Miners UCITS ETF is a UCITS-compliant ETF that physically replicates the North Shore Sprott Uranium Miners Index by investing directly in equity securities of uranium mining and related companies. The KIID and PRIIPs KID documents explicitly state the use of a passive management strategy with replication methodology investing in underlying securities proportionally to the index weightings, with no mention of synthetic replication, swap agreements, or derivative instruments as part of the investment strategy. There is no leverage or inverse exposure indicated. The risk profile is high (6 out of 7) due to the commodity sector volatility, geographic concentration, and currency risk, but this is related to the underlying asset class and market risks rather than structural complexity. Costs are straightforward with a single ongoing charge and no performance fees or swap fees. The PRIIPs KID includes a comprehension warning indicating the product may be difficult to understand due to market risk and sector volatility, but this does not stem from structural complexity such as derivatives or leverage. No capital protection or structured features are present. The ETF invests in liquid, publicly listed equities, not complex structured products or contingent bonds. Therefore, under MiFID II criteria, the ETF is classified as non-complex."
}