{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Goldman Sachs Paris-Aligned Climate World Equity UCITS ETF",
    "investment_objective": "Passive management aiming to replicate the Solactive ISS ESG Developed Markets Paris-Aligned Benchmark USD Index NTR, focusing on developed market equities aligned with Paris Climate Agreement goals.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Developed Markets Global",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses full physical replication by holding all securities in similar proportions to the index weightings, as confirmed by the KIID and monthly factsheet. There is no mention of synthetic replication, swap agreements, or total return swaps. Derivatives are only used for efficient portfolio management and risk management purposes, not as an inherent part of the investment strategy, so derivatives exposure is considered minimal and not complexity-driving. There is no leverage, inverse or amplified exposure. The underlying assets are large and mid-cap developed market equities, which are liquid and transparent. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID but consistent with equity risk), with no capital protection or structured features. Costs are straightforward with a single ongoing charge of 0.24%, no performance fees, and no swap or derivative fees. Counterparty risk is disclosed but limited, consistent with physical replication. The index tracked is ESG and Paris-aligned but does not involve complex structured indices or contingent bonds. No complexity flags such as contingent convertible bonds, capital protection, or significant counterparty risk exposure are present. The PRIIPs KID does not carry a comprehension warning. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}