{
    "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 Capital Strength UCITS ETF is a UCITS-compliant equity ETF domiciled in Ireland, tracking the Capital Strength Index. The fund uses a physical replication method with full replication of the underlying index constituents, investing primarily in common stocks and REITs included in the index. There is no mention of synthetic replication, swap agreements, total return swaps, or any derivative instruments used as part of the investment strategy. The fund does not employ leverage, inverse exposure, or capital protection mechanisms. The risk profile is moderate (risk level 4 out of 7 in PRIIPs KID, and 6 out of 7 in the UCITS KIID, reflecting equity market volatility rather than structural complexity). Costs are straightforward with a single ongoing charge of 0.60%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical full replication, no use of derivatives or swaps, and a transparent portfolio of liquid equity securities. The index tracked is a relatively straightforward equity index with selection criteria based on volatility and financial metrics, without complex structured products or contingent bonds. Therefore, the ETF does not meet MiFID II criteria for a complex financial instrument."
}