{
    "type": "ETF",
    "ucits": true,
    "fund_name": "SPDR MSCI All Country World UCITS ETF",
    "investment_objective": "Track the performance of the MSCI ACWI with Developed Markets 100% hedged to EUR Index",
    "primary_asset_class": "Equity",
    "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 domiciled in Ireland, tracking the MSCI ACWI with Developed Markets 100% hedged to EUR Index. The replication method is optimised physical replication, holding a representative portfolio of approximately 2,249 to 2,558 equity securities globally. The Fund uses financial derivatives only for currency hedging and efficient portfolio management, not as an inherent part of the investment strategy, thus derivatives are not considered complexity drivers. There is no use of synthetic replication, swaps, or leverage. The risk profile is medium (4 out of 7) in the PRIIPs KID, reflecting market volatility rather than structural complexity. The TER is low at 0.17%, with no performance fees or complex fee structures. The Fund does not invest in complex underlying assets such as contingent convertible bonds or CLOs. The index tracked is a broad equity index with currency hedging, which is a common and transparent feature. No capital protection or structured features are present. The KIID and PRIIPs KID do not contain warnings about complexity or suitability restrictions beyond normal market risks. The monthly fact sheet confirms physical replication and no synthetic or swap-based structures. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}