{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF",
    "investment_objective": "To replicate the Solactive ISS ESG Nordic Investable Universe Net Zero Pathway Index, which reflects Nordic companies aligned with EU Paris-aligned Benchmark standards and net zero frameworks using ESG criteria.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Nordic countries",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication by buying all or a substantial number of the underlying securities in the index. There is no mention of synthetic replication, swap agreements, or total return swaps. The fund may use derivatives only for risk management purposes, which does not trigger complexity under MiFID II. There is no leverage or inverse exposure. The underlying assets are equities of Nordic companies selected based on ESG criteria, with no complex structured products or contingent bonds. The risk profile is medium (level 4 out of 7), consistent with equity market risk, and there are no capital protection or structured features. Costs are straightforward with a low ongoing charge of 0.15% and no performance fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms direct physical replication and no use of swaps. Overall, the fund exhibits a clear, linear relationship to the underlying index performance and invests in liquid, transparent securities.",
    "risk_level_assessment": "The fund's risk rating is 4 out of 7, indicating medium risk typical of equity investments. This aligns with the non-complex classification as the risks stem from market volatility rather than structural or derivative complexity."
}