{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI World Momentum ESG UCITS ETF",
    "investment_objective": "To replicate the performance of the MSCI World Momentum Low Carbon SRI Screened Select Index, a rules-based ESG and momentum factor index of large and mid-cap developed market equities.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global Developed Markets",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "Momentum factor index, ESG screening, Optimized physical replication",
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the MSCI World Momentum Low Carbon SRI Screened Select Index by direct purchase of underlying securities, as confirmed by the factsheet stating 'Direct Replication (physically)'. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or factsheet. The fund may use derivatives only for risk management purposes, which does not trigger complexity under MiFID II. There is no leverage, inverse or amplified exposure. The underlying assets are large and mid-cap equities in developed markets, which are liquid and transparent. The risk profile is medium (4 out of 7), consistent with equity market risk, without additional complexity flags such as capital protection or structured features. Costs are straightforward with a single ongoing charge of 0.25% and no performance fees or swap fees. The PRIIPs KID does not contain any comprehension warnings or complexity flags. The momentum factor and ESG screening add some sophistication but do not inherently make the product complex under MiFID II. The absence of synthetic replication, leverage, complex underlying assets, or capital protection features supports a non-complex classification."
}