{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI World Minimum Volatility UCITS ETF",
    "investment_objective": "To reflect the performance, before fees and expenses, of the MSCI World Minimum Volatility (USD) Index, which selects large and medium cap shares in developed markets using a minimum volatility strategy.",
    "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 Minimum Volatility 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, not as an inherent part of the investment strategy, which does not trigger complexity under MiFID II. The fund is UCITS compliant and uses a straightforward index-tracking objective with direct investment in liquid, transparent equities. The risk profile is medium-high (category 6 in KIID) due to equity market volatility and the minimum volatility strategy, but this does not imply complexity under MiFID II. No leverage, inverse exposure, capital protection, or structured features are present. Costs are simple with a TER of 0.25%, no performance fees, and minimal securities lending revenue. The PRIIPs KID does not include any comprehension warnings or complexity flags. The index tracked is rules-based but transparent and well-known, without complex derivatives embedded. Overall, the ETF is non-complex as per MiFID II criteria."
}