{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI AC World Screened UCITS ETF 5C - USD Hedged",
    "investment_objective": "To track the performance of the MSCI ACWI Select Screened Index while minimizing foreign currency fluctuations at share class level",
    "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 as confirmed by the factsheet stating 'Direct Replication (physically)'. The fund aims to track an ESG screened MSCI ACWI Select Screened Index composed of large and mid-cap equities globally, including emerging markets. The fund uses derivatives only for currency hedging purposes to reduce currency risk, not as an inherent part of the investment strategy, which aligns with derivatives=false. There is no mention of synthetic replication, swap agreements, or counterparty risk exposure. Leverage or inverse exposure is not present. The risk profile is medium (category 4 out of 7) in the PRIIPs KID, reflecting normal market risks associated with equity investments including emerging markets and currency hedging, but no complexity flags such as capital protection or structured features are present. Costs are straightforward with a TER of 0.37% and no performance fees or swap fees. Securities lending is minimal and revenue sharing does not increase costs. The index tracked is rules-based and ESG screened but does not involve complex structured products or contingent bonds. No comprehension warnings or complexity flags appear in the PRIIPs KID. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}