{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETC Group Web 3.0 UCITS ETF is a UCITS-compliant ETF that employs a passive management indexing strategy with physical replication of the underlying equity securities in proportion to the Solactive ETC Group Web 3.0 Index. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as part of the investment strategy. The fund does not use leverage or inverse exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is high (6 out of 7), reflecting the volatility of the underlying technology sector and currency risk, but this is due to market risk rather than structural complexity. Costs are straightforward with a single ongoing charge of 0.65%, no performance fees, and no swap or derivative fees. The PRIIPs KID includes a comprehension warning indicating the product may be difficult to understand due to the nature of the underlying technology sector and market volatility, but this does not stem from structural complexity of the ETF itself. No capital protection or structured features are present. Overall, the ETF shows a clear, linear relationship to the underlying index performance with physical replication and no embedded derivative complexity, leading to a non-complex classification under MiFID II."
}