{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Avantis Emerging Markets Equity UCITS ETF USD ACC",
    "investment_objective": "Seek long-term capital appreciation through investment in an actively managed portfolio of equity and equity-related securities in emerging markets countries.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Emerging Markets (including China H-shares, P-chips, red-chips)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The fund is an actively managed UCITS ETF investing primarily in equities and equity-related securities in emerging markets. The KIID and PRIIPs KID documents explicitly state that the fund does not use derivatives embedded in securities (e.g., warrants or stock options) and does not invest in contingent convertible bonds. There is no mention of synthetic replication, swap agreements, or derivative counterparty risk. The replication method is physical, investing directly in underlying securities. The fund does not employ leverage or inverse strategies. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID risk scale), consistent with equity market risk but not indicative of complexity due to derivatives or leverage. Costs are straightforward with no performance fees or swap fees. The fund references the MSCI Emerging Markets IMI Index only for comparative purposes and does not seek to replicate it, indicating an active management approach without complex index structures. The monthly factsheet (URL provided) does not indicate any use of swaps or synthetic replication. No capital protection or structured features are present. Overall, the fund's structure and disclosures align with a non-complex classification under MiFID II."
}