{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Franklin S&P 500 Paris Aligned Climate UCITS ETF",
    "investment_objective": "To track the performance of the S&P 500 Net Zero 2050 Paris-Aligned ESG Index, providing exposure to large capitalization US stocks aligned with the transition to a low carbon economy.",
    "primary_asset_class": "Equity",
    "geographic_focus": "United States",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF uses full physical replication of the S&P 500 Net Zero 2050 Paris-Aligned ESG Index, investing directly in large-cap US equities. The KIID and PRIIPs KID confirm that derivatives are only used for efficient portfolio management purposes, not as an inherent part of the investment strategy, and no synthetic replication or swap agreements are mentioned. The fund is UCITS compliant, with a low total expense ratio of 0.07%, no performance fees, and no leverage or inverse exposure. Risk disclosures mention counterparty and derivative instrument risks, but these relate to limited use of derivatives for risk management, not strategy. The fund holds liquid, transparent equity securities without complex structured products or contingent capital instruments. The risk rating is 5 out of 7, reflecting medium-high market risk typical of equity ETFs, not complexity. The monthly factsheet confirms physical full replication, no use of swaps, and no leverage. There are no capital protection or structured features. No complexity flags such as contingent convertible bonds, leverage, or synthetic replication are present. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}