{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI World Consumer Staples UCITS ETF",
    "investment_objective": "To replicate the performance, before fees and expenses, of the MSCI World Consumer Staples Total Return Net Index",
    "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 aims to physically replicate the MSCI World Consumer Staples Total Return Net Index by buying all or a substantial number of the underlying securities. 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. There is no leverage, inverse or amplified exposure. The underlying assets are large and mid-cap equities in the consumer staples sector, which are liquid and transparent. No capital protection or structured features are present. The risk profile is medium (category 4 out of 7), consistent with equity market risk but not indicating complexity. Costs are straightforward with a single ongoing charge of 0.25%, no performance fees, and no swap or derivative fees. Securities lending is minimal and does not add complexity. The PRIIPs KID does not contain any comprehension warnings or complexity flags. The factsheet confirms direct physical replication and no use of swaps or synthetic structures. Overall, the fund exhibits characteristics of a standard physical equity ETF with minimal derivative use for risk management, no leverage, and no complex underlying assets, leading to a non-complex classification under MiFID II."
}