{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI Innovation UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF aims to track the MSCI ACWI IMI Innovation Select Screened 200 Index by physical replication, buying all or a substantial number of the underlying securities. The factsheet explicitly states 'Direct Replication (physically)'. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or factsheet. The fund may use derivatives only for risk management purposes, which does not trigger complexity under MiFID II. There is no leverage, inverse or amplified exposure. The underlying assets are equities selected based on thematic and ESG criteria, with no complex structured products or contingent bonds. The risk profile is medium-high (5/7), reflecting market volatility and emerging market exposure, but not complexity from product structure. Costs are straightforward with a single ongoing charge of 0.30% and no performance fees or swap 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 straightforward physical replication strategy with transparent holdings and no embedded leverage or complex derivatives, leading to a non-complex classification under MiFID II."
}