{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MDAX ESG Screened UCITS ETF",
    "investment_objective": "Track the performance of the MDAX ESG Screened Index before fees and expenses",
    "primary_asset_class": "Equity",
    "geographic_focus": "Germany (medium-capitalisation companies listed on Frankfurt Stock Exchange)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the MDAX ESG Screened Index by buying all or a substantial number of the underlying securities, as confirmed by the factsheet stating 'Direct Replication (physically)'. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or factsheet. The fund may use derivatives only for risk management purposes, which does not trigger complexity under MiFID II. There is no leverage, inverse exposure, or capital protection mechanism. The underlying assets are medium-cap German equities, which are liquid and transparent. The risk profile is medium-high (5/7) due to market and mid-cap risks, not due to structural complexity. Costs are straightforward with a single ongoing charge of 0.40% and no performance fees or swap fees. No complexity flags such as contingent bonds, structured products, or significant counterparty risk are present. The PRIIPs KID does not include any comprehension warnings or complexity disclaimers. Therefore, the ETF is classified as non-complex under MiFID II."
}