{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The SPDR MSCI World Climate Paris Aligned UCITS ETF is a UCITS-compliant ETF that physically replicates the MSCI World Climate Paris Aligned Index by holding the underlying securities directly, as confirmed by the KIID and the factsheet. The Fund uses a replication strategy aiming to hold all securities of the Index with approximate weightings, with no mention of synthetic replication or swap agreements. The KIID states that derivatives may be used only for efficient portfolio management in exceptional circumstances, implying derivatives are not an inherent part of the investment strategy, thus derivatives exposure is minimal and for risk management only. There is no leverage, inverse or amplified exposure. The underlying assets are large and mid-cap equities in developed markets, with no complex structured products or contingent bonds. The risk profile is medium-high (category 6 in KIID) due to market volatility and ESG screening risks, not due to structural complexity. Costs are straightforward with a TER of 0.15%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms physical replication and no use of swaps. Therefore, the ETF does not meet MiFID II criteria for complexity as it lacks synthetic replication, leverage, complex underlying assets, or capital protection features."
}