{
    "type": "ETF",
    "ucits": true,
    "fund_name": "First Trust Alerian Disruptive Technology Real Estate UCITS ETF",
    "investment_objective": "To replicate the performance of the Alerian Disruptive Technology Real Estate Index, primarily investing in equity securities included in the Index.",
    "primary_asset_class": "Equity",
    "geographic_focus": [
        "United States",
        "Singapore",
        "Japan",
        "United Kingdom",
        "Hong Kong",
        "Belgium",
        "Canada"
    ],
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical full replication of an equity index focused on real estate companies supporting disruptive technology infrastructure. There is no mention of synthetic replication, swap agreements, or derivative instruments used for investment purposes. The fund is UCITS compliant, with a straightforward index-tracking objective investing directly in liquid equity securities. The risk profile is medium-high (5 out of 7), reflecting market volatility rather than structural complexity. No leverage, inverse exposure, or capital protection features are present. Costs are simple with a single ongoing charge of 0.60%, no performance fees, and no swap or derivative fees. The PRIIPs KID confirms no complex derivative usage and no comprehension warnings. The factsheet confirms physical replication, no use of swaps or derivatives, and a transparent portfolio of equity REITs and related companies. The index tracked is a modified average daily trading value weighted index with clear inclusion criteria and quarterly rebalancing, not involving complex structured products or contingent bonds. Therefore, under MiFID II, this ETF is classified as non-complex."
}