{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI USA Consumer Staples UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to track the MSCI USA Consumer Staples Net Total Return Index by direct physical replication, purchasing all or a substantial number of the underlying securities. The KIID and PRIIPs KID documents confirm the fund is a UCITS ETF with no leverage, no inverse or leveraged exposure, and no synthetic replication or swap usage. Derivatives may be used only for risk management purposes, not as an inherent part of the investment strategy. The fund invests directly in large and mid-cap US consumer staples equities, which are liquid and transparent. The risk indicator is moderate (4/7), consistent with equity sector concentration risk but not complexity. There are no capital protection or structured features. Fees are straightforward with a low ongoing charge of 0.12% and no performance fees or swap fees. The factsheet explicitly states 'Direct Replication (physically)' and no mention of synthetic or swap-based replication. No complex underlying assets such as contingent convertible bonds or CLOs are held. No significant counterparty risk or complex derivative risk disclosures beyond normal derivative risk management are present. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}