{
    "type": "ETF",
    "ucits": true,
    "fund_name": "First Trust Growth Strength UCITS ETF",
    "primary_asset_class": "equity",
    "geographic_focus": "primarily US equities (Nasdaq Growth Strength Index)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF domiciled in Ireland, tracking the Nasdaq Growth Strength Index. The KIID and PRIIPs KID clearly state the fund uses physical full replication of the underlying equity securities or depositary receipts where direct investment is not possible. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used for investment purposes. The fund does not employ leverage, inverse exposure, or capital protection mechanisms. The risk indicator in the KIID is 7 (high risk) reflecting equity market volatility, but the PRIIPs KID risk indicator is 4 (medium risk), consistent with a straightforward equity index ETF. The fact sheet confirms physical replication with quarterly rebalancing and no use of derivatives or swaps. Costs are standard with no swap fees or performance fees. There are no complex underlying assets such as contingent convertible bonds or CLOs. No references to counterparty risk or collateral management are present. The fund\u2019s investment objective is straightforward index tracking with a clear linear relationship to the underlying index performance. Therefore, under MiFID II, this ETF is classified as non-complex."
}