{
    "type": "ETF",
    "ucits": true,
    "fund_name": "First Trust Bloomberg Scarce Resources UCITS ETF",
    "investment_objective": "To replicate the performance of the Bloomberg Scarce Resources Index by investing primarily in equity securities included in the Index.",
    "primary_asset_class": "Equity",
    "geographic_sector_focus": "Global equities with sector focus on oil & gas, aerospace & defense, agriculture, renewable energy, metals & mining",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical full replication of the underlying equity securities in the Bloomberg Scarce Resources Index, as confirmed by the factsheet. There is no mention of synthetic replication, swap agreements, or derivative instruments used to achieve the investment objective. The fund is UCITS compliant and invests directly in liquid equity securities. The risk profile is high (7/7) due to equity market volatility and sector concentration but not due to structural complexity. No leverage, inverse exposure, or capital protection features are present. Costs are straightforward with a single ongoing charge of 0.65% and no performance fees. The PRIIPs KID does not include any comprehension warnings or complexity flags related to derivatives or structured products. The index tracked is a modified market cap weighted equity index with semi-annual rebalancing, without complex structured products or contingent bonds. Therefore, the ETF does not meet MiFID II criteria for a complex financial instrument."
}