{
    "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 Technology UCITS ETF is a UCITS-compliant ETF domiciled in Ireland, tracking the MSCI World Information Technology 35/20 Capped Index. The fund uses a physical replication strategy aiming to hold all or nearly all securities in the index with approximate weightings, as confirmed by the factsheet stating 'Replicated' under replication method. There is no mention of synthetic replication, swap agreements, total return swaps, 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 employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is medium-high (category 5 out of 7), reflecting the volatility of the technology sector equities rather than structural complexity. Costs are straightforward with a single ongoing charge of 0.30%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The fund\u2019s holdings are primarily large-cap, liquid technology equities, with no significant counterparty risk or capital protection features. The ETF\u2019s tracking error and annualized tracking error are low, consistent with physical replication. Overall, the absence of synthetic replication, leverage, complex underlying assets, or capital protection features leads to a non-complex classification under MiFID II."
}