{
    "type": "ETF",
    "ucits": true,
    "fund_name": "SPDR Dow Jones Global Real Estate UCITS ETF",
    "investment_objective": "Track the performance of the Dow Jones Global Select Real Estate Securities Index",
    "primary_asset_class": "Equity (Real Estate Investment Trusts and Real Estate Operating Companies)",
    "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 Fund is a UCITS-compliant ETF that physically replicates the Dow Jones Global Select Real Estate Securities Index by holding the underlying securities (REITs and REOCs) with approximate weightings as in the index. The KIID and PRIIPs KID explicitly state that derivatives may be used only in limited circumstances for efficient portfolio management, not as an inherent part of the investment strategy, thus derivatives are considered false for complexity purposes. There is no mention of synthetic replication, swap agreements, or counterparty risk exposure. The Fund does not employ leverage, inverse or amplified returns, nor does it have capital protection or structured features. The risk profile is high (category 7) due to the volatility of the underlying real estate securities, not due to structural complexity. Costs are straightforward with a single ongoing charge (TER) of 0.40%, no performance fees, and no complex fee structures. The factsheet confirms physical replication and no use of swaps or synthetic structures. The index tracked is a broad, transparent, and liquid index of listed real estate securities, without complex derivatives embedded. No references to roll costs, contango, or backwardation effects are present. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}