{
    "type": "ETF",
    "ucits": true,
    "fund_name": "First Trust United Kingdom AlphaDEX\u00ae UCITS ETF",
    "investment_objective": "To provide total return reflecting the NASDAQ AlphaDEX\u00ae United Kingdom Index by investing primarily in equity securities included in the Index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "United Kingdom",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication by holding equity securities in similar proportions to the NASDAQ AlphaDEX\u00ae United Kingdom Index. There is no mention of synthetic replication, swap agreements, or derivative instruments used for investment purposes. The fund does not employ leverage or inverse strategies. The risk profile is medium-high (5-6 on a 7-point scale) due to equity market volatility but not due to structural complexity. The fund is UCITS compliant, with a straightforward index-tracking objective investing directly in liquid, transparent UK equities. Costs are simple with no performance fees or swap fees. The PRIIPs KID confirms no capital protection or structured features and no derivative usage beyond normal portfolio management. The monthly factsheet confirms physical replication and no use of swaps or complex underlying assets. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}