{
    "type": "ETF",
    "ucits": true,
    "fund_name": "SPDR S&P U.S. Consumer Staples Select Sector UCITS ETF (Acc)",
    "investment_objective": "Track the performance of large sized U.S. consumer staples companies in the S&P 500 Index",
    "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 Fund is a UCITS compliant ETF that physically replicates the S&P Consumer Staples Select Sector Daily Capped 35/20 Index by holding the underlying equity securities directly. The KIID and PRIIPs KID documents confirm the use of a replication strategy aiming to hold all securities in the index with approximate weightings, with no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy. Derivatives may be used only for efficient portfolio management in exceptional circumstances, which does not constitute inherent derivative exposure. There is no leverage, inverse or amplified exposure. The risk profile is high (category 6) due to concentration in the consumer staples sector and market volatility, but this does not imply complexity under MiFID II. The fund does not employ capital protection, structured features, or complex underlying assets such as contingent convertible bonds or CLOs. Costs are straightforward with a low ongoing charge (0.15%) and no performance fees. The monthly factsheet confirms physical replication, no use of swaps, and direct investment in liquid, large-cap U.S. equities. No complexity flags such as counterparty risk or derivative counterparty exposure are present. Therefore, the ETF is classified as non-complex under MiFID II criteria."
}