{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Franklin U.S. Equity UCITS ETF Class SINGLCLASS",
    "investment_objective": "Track the performance of the Linked Franklin US Equity Index (Net Return), a multi-factor index selected from the Russell 1000\u00ae Index",
    "primary_asset_class": "Equity",
    "geographic_focus": "United States",
    "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 index securities in similar proportions to the Linked Franklin US Equity Index, which is composed of approximately 250 large and mid-cap U.S. stocks selected via a transparent multi-factor process. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only derivatives for efficient portfolio management purposes, which does not trigger complexity under MiFID II. The fund has no leverage, inverse or amplified exposure. The risk profile is moderate (4 out of 7), consistent with a straightforward equity index tracking fund. The total expense ratio is low (0.25%), with no performance fees or complex fee structures. 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 disclosures relate only to operational risks typical of UCITS ETFs and derivatives used for efficient portfolio management, not inherent complexity. There are no capital protection or structured features. The underlying assets are liquid, large and mid-cap U.S. equities, with no complex bonds or structured products. Therefore, the ETF is classified as non-complex under MiFID II."
}