{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Franklin Future of Food UCITS ETF aims to track the Solactive Sustainable Food Index using a full replication or optimisation methodology by holding the underlying equity securities directly. The KIID and PRIIPs KID explicitly state that derivatives may be used only for efficient portfolio management purposes, not as an inherent part of the investment strategy, and no swap agreements or synthetic replication are mentioned. The factsheet confirms the product structure as 'Physical' with 'Full Replication' methodology, holding 62 equity securities from developed markets. There is no leverage, inverse exposure, or capital protection features. The risk profile is moderate (risk level 4 out of 7), consistent with a straightforward equity ETF. No complex underlying assets such as contingent convertible bonds or CLOs are held. Counterparty risk disclosures relate only to standard operational risks, not to synthetic or swap-based structures. Costs are simple with a TER of 0.30%, no performance fees, and no swap or derivative fees. There are no complexity flags such as capital guarantees, structured returns, or leverage. The PRIIPs KID does not include any comprehension warnings or complexity disclaimers. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}