{
    "type": "ETF",
    "ucits": true,
    "fund_name": "SPDR MSCI Europe Technology UCITS ETF",
    "investment_objective": "Track the performance of European large and mid-sized companies in the Information Technology sector via the MSCI Europe Information Technology 35/20 Capped Index",
    "primary_asset_class": "Equity",
    "geographic_focus": "Europe",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS-compliant ETF that physically replicates the MSCI Europe Information Technology 35/20 Capped Index by holding the underlying equity securities directly. The KIID and PRIIPs KID explicitly state that derivatives may be used only for efficient portfolio management, not as an inherent part of the investment strategy, thus derivatives exposure is minimal and for risk management purposes only. There is no mention of synthetic replication, swap agreements, or counterparty risk. The Fund does not employ leverage or inverse strategies. The underlying assets are large and mid-cap European technology equities, which are liquid and transparent. The risk profile is medium-high (5/7) reflecting equity market volatility, not complexity. Costs are straightforward with a TER of 0.18%, no performance fees, and no complex fee structures. The factsheet confirms physical replication and no use of swaps or synthetic instruments. No capital protection or structured features are present. There are no complexity flags such as contingent bonds or structured products in the holdings. The Fund\u2019s risk disclosures and investor suitability statements do not indicate complexity beyond normal equity market risks. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}