{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI World UCITS ETF",
    "investment_objective": "To track the performance, before fees and expenses, of the MSCI Total Return Net World Index",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global developed markets (23+ developed countries including US, UK, Japan, Europe, Canada, Australia, etc.)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses direct physical replication of the MSCI Total Return Net World Index, investing in large and mid-cap equities across developed markets. The fund may use derivatives only for risk management purposes, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, or counterparty risk exposure. Leverage or inverse exposure is not present. The risk profile is medium (4 out of 7), consistent with a broad equity market ETF. Costs are straightforward with a low ongoing charge of 0.19% and no performance fees. Securities lending is minimal and does not increase costs. The index tracked is a standard, rules-based, free-float market cap weighted equity index without complex structured features. The PRIIPs KID does not contain any comprehension warnings or complexity flags. The factsheet confirms physical replication and no use of swaps. Overall, the ETF exhibits characteristics of a non-complex financial instrument under MiFID II."
}