{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Xtrackers FTSE 250 UCITS ETF is a UCITS-compliant, physically replicating ETF that aims to track the FTSE 250 Total Return Index by direct purchase of the underlying securities. The KIID and PRIIPs KID documents confirm the fund uses physical replication or substantial direct holdings rather than synthetic replication or swap-based strategies. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk exposure. The fund does not employ leverage or inverse exposure, and the risk profile is moderate (risk level 4 out of 7 in PRIIPs KID, category 6 in KIID but driven by equity market volatility rather than complexity). The fund invests directly in mid-cap UK equities, which are liquid and transparent securities. The factsheet explicitly states the portfolio methodology is direct replication (physical). Derivatives are only used, if at all, for risk management or cost reduction, not as an inherent part of the investment strategy, so derivatives are marked false. There are no capital protection or structured features. Costs are straightforward with a simple ongoing charge of 0.15% and no performance fees or swap fees. Securities lending is minimal and revenue sharing is disclosed but does not increase costs. No complexity warnings or comprehension warnings appear in the PRIIPs KID. The index tracked is a standard market cap weighted index of UK mid-caps without complex features. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}