{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI World Value UCITS ETF",
    "investment_objective": "To reflect the performance, before fees and expenses, of the MSCI World Enhanced Value (USD) index by replicating the index through physical purchase of securities.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global developed markets",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the MSCI World Enhanced Value Index by buying all or a substantial number of the underlying securities, as confirmed in the KIID and factsheet. There is no mention of synthetic replication, swap agreements, or total return swaps. The fund may use derivatives only for risk management purposes, which does not trigger complexity classification. There is no leverage or inverse exposure. The underlying assets are large and mid-cap equities from developed markets, which are liquid and transparent. The risk profile is medium (4 out of 7) in the PRIIPs KID, consistent with equity market risk but not indicative of complexity. No capital protection or structured features are present. Costs are straightforward with a TER of 0.25% and no performance fees. Securities lending is minimal and disclosed. The PRIIPs KID does not include any comprehension warnings or complexity flags. The index tracked is a rules-based enhanced value index, which is transparent and does not involve complex derivatives or contingent bonds. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}