{
    "type": "ETF",
    "ucits": true,
    "fund_name": "First Trust Indxx Innovative Transaction & Process UCITS ETF",
    "investment_objective": "To replicate the performance of the Indxx Blockchain Index by investing primarily in equity securities included in the Index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global, with significant US, China, Germany, India, UK, France, Switzerland, Japan, Spain, Finland, Australia exposure",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF physically replicating the Indxx Blockchain Index by holding the underlying equity securities in similar proportions. The KIID and PRIIPs KID documents do not mention any use of synthetic replication, swap agreements, total return swaps, or derivative instruments as part of the investment strategy. The fund uses full physical replication and may invest in depositary receipts only when direct investment is not possible. There is no leverage, inverse exposure, or capital protection mechanism. The risk rating is 6 in the KIID but 4 in the PRIIPs KID, reflecting market volatility and blockchain technology risks rather than structural complexity. The fund invests in liquid, transparent equity securities with no indication of complex underlying assets such as contingent convertible bonds or CLOs. Costs are straightforward with a single ongoing charge of 0.65%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical replication and no use of derivatives or swaps. The blockchain thematic focus introduces technology and regulatory risks but does not increase MiFID II complexity classification. There is no mention of roll costs, contango, or backwardation effects. The PRIIPs KID does not carry a comprehension warning. Therefore, the fund is classified as non-complex under MiFID II."
}