{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI UK ESG UCITS ETF",
    "investment_objective": "To replicate the performance of the MSCI United Kingdom IMI Low Carbon SRI Selection Capped Index by buying all or a substantial number of the securities in the index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "United Kingdom",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity fund physically replicating the MSCI UK IMI Low Carbon SRI Selection Capped Index by direct purchase of underlying securities. The KIID and PRIIPs KID documents confirm the fund uses physical replication and only mentions derivatives in the context of risk management techniques, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, or counterparty risk exposure. The fund does not employ leverage or inverse strategies. The underlying assets are UK equities with ESG and low carbon criteria, which are liquid and transparent. The risk profile is medium (4 out of 7), consistent with equity market risk, without complexity flags such as capital protection or structured features. Costs are straightforward with a simple ongoing charge of 0.18% and no performance fees or swap fees. The factsheet confirms direct physical replication and no use of swaps. No complexity indicators such as contingent bonds, leverage, or synthetic structures are present. Therefore, under MiFID II, this ETF is classified as non-complex."
}