{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Global X SuperDividend\u00ae UCITS ETF",
    "investment_objective": "To closely track the price and yield performance of the Solactive Global SuperDividend\u00ae v2 Index by investing primarily in equity securities and derivatives.",
    "primary_asset_class": "Equity",
    "geographic_sector_focus": "Global, including emerging markets",
    "replication_method": "synthetic",
    "swaps": true,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [
        "Unfunded total return swaps",
        "Derivative counterparty risk",
        "Securities lending",
        "Emerging market equities"
    ],
    "classification": "complex",
    "supporting_data": "The Fund uses synthetic replication via total return 'unfunded' OTC swaps and exchange-traded equity futures to track the Solactive Global SuperDividend\u00ae v2 Index. The use of unfunded swaps and derivatives introduces counterparty risk, which is explicitly disclosed. The Fund also engages in securities lending, which adds operational complexity. The underlying index includes 100 equally weighted high dividend yielding equities globally, including emerging markets, which may add liquidity and valuation complexity. The Risk and Reward Indicator is 6 out of 7, indicating a medium-high risk profile. The PRIIPs KID confirms the use of unfunded OTC swaps and derivatives for investment purposes, not solely for risk management, which under MiFID II rules classifies the ETF as complex. There is no leverage or inverse exposure, and the Fund is UCITS compliant. The complexity arises primarily from the synthetic replication method using unfunded swaps and the associated counterparty risk, as well as the inclusion of emerging market equities and securities lending activities. No capital protection or structured features are present. The derivative use is inherent to the investment strategy, not just for hedging, so derivatives are marked false in the sense of 'derivatives for risk management only'. The PRIIPs document does not carry a specific comprehension warning but the complexity is evident from the swap usage and risk disclosures."
}