{
    "type": "ETF",
    "ucits": true,
    "fund_name": "First Trust Global Capital Strength ESG Leaders UCITS ETF",
    "investment_objective": "Seek long-term returns through capital growth by investing in a diversified portfolio of global equity securities with leading ESG metrics and capital strength.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global (Developed and Emerging Markets across 23 developed and 27 emerging countries)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is an actively managed UCITS fund investing directly in approximately 50 global equity securities selected from the MSCI ACWI ESG Leaders Index. The fund uses a proprietary capital strength screening methodology but does not use synthetic replication or derivatives as part of its core investment strategy. There is no mention of swap agreements, total return swaps, or derivative counterparty risk. The replication method is physical, with direct purchase of underlying securities. The fund does not employ leverage, inverse or amplified exposure. The risk indicator is moderate (4 out of 7 in PRIIPs KID, 6 out of 7 in KIID but this is due to equity market volatility and ESG constraints, not complexity). The fund is UCITS compliant and regulated by the Central Bank of Ireland. Costs are straightforward with a single ongoing charge of 0.75%, no performance fees, and no swap or derivative fees. The underlying assets are large and mid-cap equities, liquid and transparent, with no complex structured products or contingent bonds. The PRIIPs KID does not include any comprehension warnings or complexity flags. The fund\u2019s ESG and capital strength screening may limit the investable universe but does not add complexity under MiFID II. No capital protection or structured features are present. Overall, the fund exhibits a clear, linear relationship to underlying equity performance and minimal derivative exposure used only for risk management if at all, thus it is classified as non-complex."
}