{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI USA High Dividend Yield ESG UCITS ETF",
    "investment_objective": "To reflect the performance, before fees and expenses, of the MSCI USA High Dividend Yield Low Carbon SRI Screened Select Index",
    "primary_asset_class": "Equity",
    "geographic_focus": "USA",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the MSCI USA High Dividend Yield Low Carbon SRI Screened Select Index by 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 fund may use derivatives only for risk management purposes, which does not trigger complexity classification. The fund is UCITS compliant and uses direct physical replication. There is no leverage, inverse exposure, or capital protection features. The underlying assets are large- and mid-cap US equities screened for ESG criteria, which are liquid and transparent. The risk profile is medium (4 out of 7), consistent with equity market risk, and no complex derivative or counterparty risks are highlighted. Costs are straightforward with a single ongoing charge of 0.25% and no performance fees or swap fees. The factsheet confirms direct physical replication and no use of swaps. No complexity flags such as contingent bonds, structured products, or capital protection mechanisms are present. The PRIIPs KID does not include any comprehension warnings or complexity disclaimers. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}