{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The First Trust Value Line\u00ae Dividend Index UCITS ETF is a UCITS-compliant equity ETF domiciled in Ireland, tracking the Value Line Dividend Index. The fund uses physical full replication, investing primarily in the underlying equity securities or their depositary receipts, with no mention of synthetic replication, swap agreements, or derivative instruments as part of its core strategy. The fund does not employ leverage or inverse exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or structured products. The risk profile is moderate (risk level 4 out of 7 in the PRIIPs KID), consistent with a straightforward equity index tracking fund. Costs are standard with a 0.70% ongoing charge and no performance fees or swap fees. The PRIIPs KID and monthly factsheet confirm no use of derivatives for investment purposes, only possibly for minor risk management, which does not trigger complexity. There are no capital protection or structured features. The fund\u2019s holdings are liquid, large-cap equities with transparent valuation. No counterparty risk or collateral management risks are disclosed. The fund\u2019s complexity is low, with no indicators of MiFID II complexity triggers such as synthetic replication, leverage, or complex underlying assets. Therefore, the fund is classified as non-complex under MiFID II."
}