{
    "type": "ETF",
    "ucits": true,
    "fund_name": "SPDR FTSE UK All Share UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The SPDR FTSE UK All Share UCITS ETF is a UCITS-compliant ETF domiciled in Ireland, tracking the FTSE All-Share Index, which is a broad UK equity market index with 369 constituents. The fund uses a physical replication strategy aiming to hold all securities in the index with approximate weightings, as confirmed by the factsheet. The KIID and PRIIPs KID documents state that derivatives may be used only for efficient portfolio management, not as an inherent part of the investment strategy, and there is no mention of synthetic replication, swap agreements, or counterparty risk. The fund does not employ leverage or inverse exposure. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 out of 7 in KIID, reflecting market volatility rather than structural complexity). The fund invests directly in liquid, transparent UK equities listed on the London Stock Exchange. There are no capital protection features or structured product elements. Costs are straightforward with a TER of 0.20%, no performance fees, and no swap or derivative fees. Securities lending is capped at 40% but this is a common practice and does not imply complexity. The factsheet confirms no use of swaps or synthetic replication. No complexity flags such as contingent convertible bonds or complex structured products are present. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}