{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI AC World Screened UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fund physically replicating the MSCI ACWI Select Screened Index by direct purchase of underlying securities, as confirmed by the factsheet stating 'Portfolio Methodology: Direct Replication (physically)'. The investment objective is straightforward index tracking of a large and mid-cap global equity index with ESG screening criteria. The KIID and PRIIPs KID mention that the fund may use derivatives only for risk management and cost reduction purposes, not as an inherent part of the investment strategy, thus derivatives exposure is minimal and not complexity-driving. There is no mention of synthetic replication, swap agreements, or counterparty risk exposure. No leverage, inverse or amplified return features are present. The risk profile is medium (category 4 out of 7 in PRIIPs KID, category 6 in KIID but this is due to equity market volatility, not structural complexity). No capital protection or structured features exist. Costs are simple with a flat ongoing charge of 0.25% and no performance fees or swap fees. The underlying assets are liquid global equities, with no complex bonds or structured products. The index tracked is rules-based but transparent and widely used, with ESG screening and carbon emission reduction rules, which do not add complexity under MiFID II. The PRIIPs KID does not include any comprehension warnings or complexity flags. Therefore, the fund does not meet the MiFID II criteria for a complex financial instrument."
}