{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI North America High Dividend Yield UCITS ETF",
    "investment_objective": "To track the performance of the MSCI North America High Dividend Yield index by buying all or a substantial number of the securities in the index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "North America (US and Canada)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication by directly purchasing a substantial number of the underlying securities in the MSCI North America High Dividend Yield index. There is no mention of synthetic replication, swap agreements, or total return swaps. The fund may use derivatives only for risk management purposes, which does not trigger complexity under MiFID II. There is no leverage, inverse or amplified exposure. The underlying assets are large and mid-cap North American equities with high dividend yields, which are liquid and transparent. The fund is UCITS compliant, with a straightforward index-tracking objective and a medium risk profile (risk level 4 out of 7). No capital protection or structured features are present. Costs are simple with a single ongoing charge of 0.39% and no performance fees or swap fees. The PRIIPs KID does not contain any comprehension warnings or complexity flags. The factsheet confirms direct physical replication and no use of swaps or synthetic structures. Overall, the fund exhibits none of the complexity indicators such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms that would classify it as complex under MiFID II."
}