{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI World Health Care UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fund physically replicating the MSCI World Health Care Total Return Net Index by direct purchase of underlying securities, as confirmed by the KIID, PRIIPs KID, and factsheet. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only limited use of derivatives for risk management purposes, which does not trigger complexity under MiFID II. The fund does not employ leverage, inverse or amplified exposure. The underlying assets are large and mid-cap equities in the healthcare sector, which are liquid and transparent. No capital protection or structured features are present. The risk profile is medium (4 out of 7), consistent with equity market exposure, without extensive derivative or counterparty risk disclosures. Costs are straightforward with a simple ongoing charge of 0.25% and no performance fees or swap fees. Securities lending is minimal and revenue sharing is disclosed but does not increase costs. The PRIIPs KID does not contain any comprehension warnings or complexity flags. The factsheet confirms direct physical replication and no use of swaps. Therefore, the fund is classified as non-complex under MiFID II criteria."
}