{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Franklin FTSE Emerging ex China UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Franklin FTSE Emerging ex China UCITS ETF aims to track the FTSE Emerging ex China Index NR by holding all or substantially all of the underlying securities, using a full physical replication methodology as confirmed by the factsheet. The KIID and PRIIPs KID explicitly state that derivatives may only be used for efficient portfolio management purposes, not as an inherent part of the investment strategy, and no synthetic replication or swap usage is mentioned. There is no leverage, inverse or amplified exposure. The fund invests directly in large and mid-cap equities from emerging markets excluding China, with no complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is moderate (4 out of 7), consistent with a straightforward equity index tracking ETF. Costs are simple with a low TER of 0.11%, no performance fees, and no swap or derivative fees. No capital protection or structured features are present. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, invests in liquid, transparent securities, and uses physical replication without leverage or synthetic instruments, leading to a non-complex classification under MiFID II."
}