{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI World Momentum UCITS ETF",
    "investment_objective": "To reflect the performance, before fees and expenses, of the MSCI World Momentum index (USD), a momentum-based equity index of large and medium companies in developed countries.",
    "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 Momentum 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 derivative instruments used as part of the investment strategy, only derivatives used for risk management purposes, which does not trigger complexity. The fund does not employ leverage or inverse strategies. The underlying assets are large and mid-cap equities from developed markets, which are liquid and transparent. The risk profile is high (category 6 in KIID, 5 in PRIIPs), reflecting equity market volatility and momentum strategy risk, but this does not imply complexity under MiFID II. Costs are straightforward with a TER around 0.25%, no performance fees, and minimal securities lending income. No capital protection or structured features are present. The PRIIPs KID does not include any comprehension warnings or complexity flags. The momentum index is rules-based but does not involve complex structured products or contingent bonds. Therefore, the ETF is classified as non-complex under MiFID II."
}