{
    "type": "ETF",
    "ucits": true,
    "fund_name": "L&G US Equity UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The L&G US Equity UCITS ETF is a UCITS-compliant ETF domiciled in Ireland, tracking the Solactive Core United States Large & Mid Cap Index NTR. The fund primarily uses physical full replication, investing directly in the underlying securities in proportions similar to the index weightings. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only a possibility of limited use of financial derivative instruments for efficient portfolio management or minor adjustments, which does not constitute inherent complexity. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is moderate (risk level 6), reflecting equity market risk rather than structural complexity. Costs are straightforward with a low ongoing charge (0.05%) and no performance fees or swap fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms physical replication and no use of swaps or leverage. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance, with transparent holdings and no capital protection or structured features. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}