{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Franklin S&P 500 Screened UCITS ETF",
    "investment_objective": "Provide exposure to large capitalisation US stocks with emphasis on ESG/sustainability criteria",
    "primary_asset_class": "equity",
    "geographic_focus": "United States",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the S&P 500 Guarded Index-NR by holding all index securities in similar proportions (full physical replication). The KIID and PRIIPs KID explicitly state that derivatives may be used only for hedging and efficient portfolio management, not as an inherent part of the investment strategy, so derivatives exposure is minimal and non-complex. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk. No leverage, inverse or amplified return features are present. The underlying assets are large-cap US equities, liquid and transparent. The risk profile is medium-high (5/7) reflecting equity market volatility, not complexity. Costs are straightforward with a low ongoing charge (0.09%) and no performance fees or swap fees. No capital protection or structured features are present. The benchmark is a screened ESG variant of the S&P 500, which is a standard, well-known index without complex derivatives embedded. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits characteristics of a standard physical replication equity ETF with minimal derivative use for risk management, thus it is classified as non-complex under MiFID II."
}