{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The First Trust SMID Rising Dividend Achievers UCITS ETF is a UCITS-compliant equity ETF that seeks to replicate the Nasdaq US Small Mid Cap Rising Dividend Achievers Index. The KIID and PRIIPs KID documents consistently describe a physical replication strategy, investing primarily in the equity securities of the index or their depositary receipts. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments as part of the investment strategy. The fund does not employ leverage or inverse exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is moderate (risk level 4 out of 7 in PRIIPs KID, 7 in KIID but this is consistent with equity volatility rather than complexity), with no specific derivative-related risk disclosures or counterparty risk warnings. Costs are straightforward with a single ongoing charge of 0.60%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The fund's investment objective is straightforward index tracking with physical holdings, and the replication method is direct purchase or representative sampling of liquid equity securities. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}