{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers Russell 2000 UCITS ETF",
    "investment_objective": "To track the performance, before fees and expenses, of the Russell 2000\u00ae index by buying all or a substantial number of the securities in the index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "United States (US small and mid-cap stocks)",
    "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 Russell 2000 index, which consists of approximately 2000 small and mid-cap US equities. 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 risk profile is medium-high (5/7) reflecting the volatility of small and mid-cap stocks, not complexity of the product structure. The fund is UCITS compliant, open-ended, and has no capital protection or structured features. Costs are straightforward with a TER of 0.30% and no performance fees. Securities lending is minimal and disclosed transparently. 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 ETF is a straightforward, physically replicated equity index tracker with no embedded complexity factors such as contingent bonds, leverage, or derivative-based replication."
}