{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The L&G Digital Payments UCITS ETF is a UCITS-compliant equity ETF domiciled in Ireland, tracking the Solactive Digital Payments Index NTR. The fund uses physical full replication of the underlying securities, investing primarily directly in the index constituents in similar proportions. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy. The fund does not employ leverage, inverse exposure, or capital protection mechanisms. The risk rating is 7 out of 7, reflecting the inherent volatility of technology-focused equities rather than structural complexity. The PRIIPs KID and the fact sheet confirm no use of swaps or leverage, and the fund invests in liquid, transparent equity securities. Costs are straightforward with a single ongoing charge (TER) of 0.49%, no performance fees, and no complex fee structures. The index tracked is a standard equity index with 39 constituents, equally weighted subject to liquidity constraints, without complex structured products or contingent bonds. The fund\u2019s risk disclosures highlight market and sector risks but do not indicate complexity arising from derivatives or structured features. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}