{
    "type": "ETF",
    "ucits": true,
    "fund_name": "SPDR MSCI EM Asia UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The SPDR MSCI EM Asia UCITS ETF is a UCITS-compliant ETF that aims to track the MSCI EM Asia Index through physical replication, holding the underlying securities directly with approximate index weightings. The KIID and PRIIPs KID documents confirm the use of physical replication and only limited use of derivatives for efficient portfolio management, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk exposure. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is medium-high (category 4 out of 7 in PRIIPs, 6 out of 7 in KIID), reflecting emerging market equity volatility rather than structural complexity. Costs are straightforward with a single ongoing charge (TER) of 0.55%, no performance fees, and no complex fee structures. The factsheet confirms physical replication and no synthetic or swap-based structures. No capital protection or structured features are present. The fund invests in liquid, transparent equity securities of emerging Asian markets. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}