{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI Europe Utilities Screened UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fund physically replicating the MSCI Europe Utilities Screened 20-35 Select Index by direct purchase of underlying securities, as confirmed by the factsheet stating 'Direct Replication (physically)'. The investment objective is straightforward index tracking of a utilities sector equity index with ESG screening and carbon emission reduction rules. The fund may use derivatives only for risk management and cost reduction purposes, not as an inherent part of the investment strategy, and no synthetic replication or swap usage is indicated. There is no leverage, inverse exposure, or capital protection mechanism. The risk profile is medium (4 out of 7), consistent with equity sector concentration risk but not indicative of complexity. Costs are simple with a low ongoing charge (0.17%) and no performance fees or swap fees. The PRIIPs KID does not carry any comprehension warnings or complexity flags. The index tracked is rules-based but transparent and composed of liquid, large and mid-cap European utilities stocks. No complex underlying assets such as contingent convertible bonds or CLOs are held. Overall, the fund exhibits a clear, linear relationship to the underlying index performance with minimal derivative exposure used only for efficient portfolio management, thus qualifying as non-complex under MiFID II."
}