{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI World Climate Transition UCITS ETF",
    "investment_objective": "To reflect the performance of the MSCI World Select Sustainability Screened CTB Index by physical replication of a substantial number of securities in the index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global developed markets (large and medium capitalization companies)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the MSCI World Select Sustainability Screened CTB Index using direct physical replication, buying all or a substantial number of the underlying securities. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or factsheet. The factsheet explicitly states 'Direct Replication (physically)'. The fund is UCITS compliant and does not employ leverage or inverse strategies. The risk profile is medium (4 out of 7) in the PRIIPs KID, reflecting typical equity market risks rather than complexity-driven risks. Derivatives are only mentioned as possible risk management tools, not as inherent to the investment strategy, so derivatives exposure is considered minimal and not a complexity driver. There are no capital protection or structured product features. Costs are straightforward with a single ongoing charge of 0.19% and no performance fees or swap fees. The underlying index is ESG-screened but composed of liquid, large and mid-cap equities, with no complex underlying assets such as contingent convertible bonds or CLOs. No references to contango, backwardation, or roll costs are present, indicating no commodity or futures-based complexity. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}