{
    "type": "ETF",
    "ucits": true,
    "fund_name": "First Trust Alerian Disruptive Technology Real Estate UCITS ETF",
    "investment_objective": "To replicate the performance of the Alerian Disruptive Technology Real Estate Index, an equity index focused on companies owning, operating, or leasing real estate supporting disruptive technology infrastructure such as 5G, cloud computing, and e-commerce.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Primarily United States (70.51%), with exposure to Singapore, Japan, United Kingdom, Hong Kong, Belgium, Canada",
    "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 an equity index composed of real estate investment trusts (REITs) and related equities focused on disruptive technology infrastructure. There is no mention of synthetic replication, swap agreements, or derivative instruments used for investment purposes. The fund is UCITS compliant, with a straightforward index-tracking objective investing directly in liquid, transparent equity securities. The risk profile is medium-high (5/7), reflecting equity market volatility rather than structural complexity. No leverage, inverse exposure, or capital protection features are present. Costs are simple with a single ongoing charge of 0.60%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The fact sheet confirms physical replication and no use of derivatives or swaps. The underlying index is a modified ADTV-weighted equity index with clear, transparent constituents and quarterly rebalancing. The fund holds common stocks of REITs and related companies, with no complex structured products or contingent bonds. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}