{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Vanguard ESG North America All Cap UCITS",
    "investment_objective": "Passive management/indexing approach to track the FTSE North America All Cap Choice Index through physical acquisition of securities",
    "primary_asset_class": "Equity",
    "geographic_focus": "United States and Canada",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fund employs a physical replication strategy, investing all or substantially all assets directly in the underlying stocks of the FTSE North America All Cap Choice Index or using representative sampling when full replication is not practicable. There is no mention of synthetic replication, swap agreements, or funded/unfunded swap structures. Derivatives may be used only for risk reduction, cost efficiency, or generating extra income, not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The underlying assets are large-, mid-, and small-cap equities, which are liquid and transparent. No capital protection or structured features are present. The risk profile is medium-high (6 out of 7), reflecting equity market risk and some derivative use for risk management, but not complexity. The PRIIPs KID includes a comprehension warning stating the Fund is 'not simple and may be difficult to understand,' but this relates to ESG screening and index complexity rather than derivative or leverage complexity. Costs are straightforward with a low ongoing charge (0.12%) and no performance fees or swap fees. Counterparty risk is disclosed but limited, consistent with UCITS standards. The factsheet confirms physical replication and no synthetic or swap-based replication. Overall, the Fund is a standard physical equity ETF with ESG screening and no complex derivative or leverage features, thus classified as non-complex under MiFID II."
}