{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The HSBC Global Funds ICAV - Global Sukuk UCITS ETF tracks the FTSE IdealRatings Sukuk Index, investing primarily in physical, USD-denominated, investment grade Sukuk bonds that are Shariah-compliant. The fund uses physical replication with an optimisation technique to minimize tracking error but does not employ synthetic replication or swap agreements. Derivatives may be used only for efficient portfolio management (risk and cost management) and not as an inherent part of the investment strategy, thus derivatives exposure is minimal and not leveraged. There is no mention of funded or unfunded swaps, counterparty risk related to derivatives, or leverage. The risk profile is low (2 out of 7), consistent with a straightforward fixed income ETF. The fund invests directly in liquid, transparent Sukuk securities, with no complex structured products or contingent convertible bonds. Costs are simple, with a single ongoing charge figure and no performance fees or swap fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical holdings, no leverage, and no synthetic replication. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}