{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Franklin Emerging Markets UCITS ETF",
    "investment_objective": "Provide exposure to medium and large capitalization companies in emerging markets by replicating the LibertyQ Emerging Markets Index (Net Return).",
    "primary_asset_class": "Equity",
    "geographic_focus": "Emerging Markets (Asia, Africa, Eastern Europe, Latin America)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF uses full physical replication by holding all securities in the index in similar proportions, with no mention of synthetic replication or swap agreements. Derivatives are only used for hedging and efficient portfolio management, not as an inherent part of the investment strategy, so derivatives exposure is minimal and risk-managed. There is no leverage, inverse or amplified exposure. The underlying assets are equities of emerging market companies, which are liquid and transparent, with no complex structured products or contingent capital instruments involved. The risk profile is medium (4/7), consistent with equity market volatility and emerging market risks, but not elevated due to complexity. Costs are straightforward with a single ongoing charge of 0.45%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms physical full replication and no use of swaps or synthetic structures. Counterparty risk is mentioned only in the context of derivatives used for hedging, which is standard and limited. Overall, the fund exhibits a clear, linear relationship to the underlying index performance and is UCITS compliant, supporting a non-complex classification under MiFID II."
}