{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The SPDR MSCI USA Climate Paris Aligned UCITS ETF is a UCITS-compliant ETF domiciled in Ireland, tracking the MSCI USA Climate Paris Aligned Index. The fund uses a physical replication strategy, aiming to hold all or substantially all securities of the index with approximate weightings, as confirmed in the KIID and factsheet. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only limited use of derivatives for portfolio management efficiency, which does not trigger complexity under MiFID II. The fund does not engage in securities lending, has no leverage or inverse exposure, and no capital protection or structured features. The risk profile is medium-high (category 5-6), reflecting equity market volatility and ESG screening risks, but not complexity from derivatives or leverage. Costs are straightforward with a low ongoing charge (0.12%) and no performance fees or swap fees. The underlying assets are large and mid-cap U.S. equities, liquid and transparent, with no complex structured products or contingent bonds. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, physical replication, and minimal derivative use solely for efficient portfolio management, leading to a non-complex classification under MiFID II."
}