{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AuAg Gold Mining UCITS ETF",
    "investment_objective": "Track the price and yield performance of the Solactive AuAg ESG Gold Mining Index",
    "primary_asset_class": "Equity",
    "geographic_sector_focus": "Global gold mining companies with ESG screening",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF tracks the Solactive AuAg ESG Gold Mining Index using a passive, physical replication strategy investing directly in the underlying securities. There is no mention of synthetic replication, swap agreements, or derivative instruments as part of the investment strategy. The fund is UCITS compliant and invests in a concentrated portfolio of 20-25 gold mining companies selected based on ESG criteria. The risk profile is rated 6 out of 7, reflecting the inherent market and sector risks of gold mining equities, but this does not stem from structural complexity such as leverage, derivatives, or capital protection features. The PRIIPs KID includes a comprehension warning indicating the product is 'not simple' due to sector volatility and ESG screening complexity, but this relates to investment risk rather than structural complexity under MiFID II. Charges are straightforward with no performance fees or swap fees. No leverage, inverse exposure, or complex underlying assets like contingent bonds or CLOs are present. The fund uses physical replication and direct purchase of securities, with no counterparty risk from swaps or derivatives. Therefore, the ETF does not meet the MiFID II criteria for a complex financial instrument."
}