{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Franklin Sustainable Euro Green Sovereign UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Franklin Sustainable Euro Green Sovereign UCITS ETF primarily invests in European sovereign green bonds issued by SSA entities, with at least 90% of its net asset value in sustainable investments. The fund uses a bottom-up active management approach and invests directly in bonds, which are liquid and transparent fixed income securities. The KIID and PRIIPs KID documents indicate that derivatives may be used only for hedging, efficient portfolio management, or investment purposes, but not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The factsheet confirms no use of leverage or inverse exposure, and the fund holds physical bonds rather than complex structured products or contingent convertible bonds. The risk profile is medium-low (risk level 3 out of 7), consistent with a straightforward bond fund. Costs are simple with a TER of 0.18%, no performance fees, and no swap or derivative fees disclosed. There are no capital protection or structured features. The benchmark is a green bond index used only for performance comparison, and the fund may materially deviate from it. Overall, the fund exhibits characteristics of a non-complex ETF under MiFID II, with physical replication, no leverage, minimal derivative use for risk management only, and investment in liquid, transparent sovereign bonds. No complexity flags such as contingent bonds, leverage, synthetic replication, or capital protection mechanisms are present."
}