{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI World UCITS ETF",
    "investment_objective": "Track the performance of the MSCI Total Return Net World Index by buying a portfolio of securities comprising the index constituents",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global developed markets (23+ countries including US, UK, Japan, Europe, Australia, Canada, etc.)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical (direct) replication of the MSCI Total Return Net World Index, investing directly in large and mid-cap equities across developed markets. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only limited use of derivatives for risk management which does not trigger complexity. The fund is UCITS compliant and has a medium risk rating of 4 out of 7, consistent with a straightforward equity index tracker. There is no leverage, inverse exposure, or capital protection features. The fund's costs are simple with a low ongoing charge of 0.12% and no performance fees. The factsheet confirms direct replication and no synthetic or swap-based structure. The PRIIPs KID does not carry any comprehension warnings or complexity flags. The underlying assets are liquid, transparent equities with no complex structured products or contingent bonds. The fund may engage in securities lending, but this does not increase complexity under MiFID II. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance with minimal derivative use and no leverage, making it non-complex under MiFID II."
}