{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI Japan UCITS ETF",
    "investment_objective": "To replicate the performance of the MSCI Total Return Net Japan Index by buying all or a substantial number of the securities in the index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Japan",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to physically replicate the MSCI Total Return Net Japan Index by direct purchase of underlying securities, as confirmed by the factsheet stating 'Direct Replication (physically)'. The KIID and PRIIPs KID mention the possible use of derivatives only for risk management and cost reduction, not as an inherent part of the investment strategy, thus derivatives are marked false. There is no mention of synthetic replication, swap agreements, or counterparty risk exposure. The fund does not employ leverage or inverse strategies. The risk profile is medium-high (5/7) reflecting market risk of Japanese equities, not complexity. The fund is UCITS compliant, open-ended, with no capital protection or structured features. Costs are straightforward with a low ongoing charge and no performance fees. Securities lending is minimal and disclosed transparently. The underlying index is a broad, liquid, large and mid-cap equity index with no complex structured products or contingent bonds. No complexity flags such as contingent convertible bonds, leverage, or synthetic replication are present. The PRIIPs KID does not carry any comprehension warnings or complexity disclaimers. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}