{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI Global SDG 11 Sustainable Cities UCITS ETF",
    "investment_objective": "To track the performance before fees and expenses of the MSCI ACWI IMI SDG 11 Sustainable Cities and Communities Select Index, which reflects large, medium, and small-cap companies globally associated with UN SDG 11.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global (Developed and Emerging Markets)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication by buying all or a substantial number of the underlying securities in the index. There is no mention of synthetic replication, swap agreements, or total return swaps. The fund may use derivatives only for risk management purposes, which does not trigger complexity classification. There is no leverage or inverse exposure. The underlying assets are equities, including large, mid, and small caps globally, with no indication of complex structured products or contingent bonds. The risk profile is medium (category 4 out of 7 in PRIIPs KID), consistent with equity market risk but not indicative of complexity. Costs are straightforward with a single ongoing charge of 0.35% and no performance fees or swap fees. The index tracked is a standard MSCI ESG-themed index with quarterly rebalancing and sector/issuer caps, but no complex features such as capital protection or barrier options. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms direct physical replication and no use of swaps or synthetic structures. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}