{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Vanguard FTSE 250 UCITS ETF employs a passive management approach through physical acquisition of securities, aiming to track the FTSE 250 Index by investing in all constituent securities or using representative sampling where full replication is impracticable. There is no indication of synthetic replication or use of swap agreements. The fund may use derivatives only for risk reduction or cost management, not as an inherent part of the investment strategy, thus derivatives are not considered a complexity factor here. There is no leverage, inverse or amplified exposure mentioned. The underlying assets are UK mid-cap equities, which are liquid and transparent. No capital protection or structured features are present. The risk profile is rated 6 in the KIID, reflecting equity market risk rather than complexity. The PRIIPs KID explicitly states the fund is 'not simple and may be difficult to understand' but this relates to general equity market risks and not to structural complexity such as swaps or leverage. The factsheet confirms physical replication, no synthetic structures, and no leverage. Costs are straightforward with a low ongoing charge and no performance fees or swap fees. Counterparty risk is mentioned only in the context of safekeeping and potential derivative counterparties but is not significant or structural. Overall, the fund's structure and investment approach align with a non-complex classification under MiFID II."
}