{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI World Communication Services UCITS ETF",
    "investment_objective": "To replicate the performance of the MSCI World Communication Services 20/35 Custom Index by buying all or a substantial number of the securities in the index.",
    "primary_asset_class": "Equity",
    "geographic_sector_focus": "Global developed markets, Communication Services sector",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication (direct purchase of underlying securities) to track the MSCI World Communication Services 20/35 Custom Index. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or factsheet. 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 in the Communication Services sector, which are liquid and transparent. No capital protection or structured features are present. The risk rating is 5 out of 7, reflecting market and sector concentration risk but not complexity due to derivatives or leverage. Costs are straightforward with a TER of approximately 0.25% and no performance fees or complex fee structures. Securities lending is minimal and disclosed. The factsheet confirms direct replication and no use of swaps. No complexity flags such as contingent bonds, capital protection, or significant counterparty risk are identified. The PRIIPs KID does not include any comprehension warnings or complexity disclosures. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}