{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Xtrackers World Biodiversity Focus SRI UCITS ETF is a UCITS-compliant ETF that physically replicates the ISS STOXX\u00ae Developed World Biodiversity Focus SRI Index by direct purchase of underlying securities, as confirmed by the factsheet stating 'Direct Replication (physically)'. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as part of the investment strategy. While the fund may use derivatives for risk management or cost reduction, the KIID and PRIIPs documents clarify that such use is not inherent to the investment objective and is limited, thus derivatives are not considered a complexity driver here. There is no leverage, inverse exposure, or capital protection features. The underlying assets are large and mid-cap equities from developed markets, screened for ESG and biodiversity criteria, but these are standard equity securities, not complex structured products or contingent convertible bonds. The risk profile is medium (risk level 4 out of 7), consistent with equity market risk, without extensive derivative or counterparty risk disclosures. Costs are straightforward with a single ongoing charge of 0.30% and no performance fees or swap fees. No complexity flags such as capital protection, leverage, or significant counterparty risk are present. The index tracked is ESG and biodiversity screened but does not introduce complexity through derivatives or structured features. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}