{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI Europe Industrials Screened UCITS ETF",
    "investment_objective": "To replicate the performance of the MSCI Europe Industrials Screened 20-35 Select Index by buying all or a substantial number of the securities in the index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Europe",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the MSCI Europe Industrials Screened 20-35 Select Index by direct purchase of underlying securities, as confirmed by the factsheet stating 'Direct Replication (physically)'. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or factsheet. The fund may use derivatives only for risk management purposes, which does not trigger complexity under MiFID II. There is no leverage, inverse or amplified exposure. The underlying assets are large and mid-cap European industrial equities, which are liquid and transparent. The risk profile is medium-high (5/7) reflecting market risk and sector concentration, not complexity from structure. No capital protection or structured features are present. Costs are straightforward with a TER of 0.17%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The fund is UCITS compliant and open-ended with daily liquidity. Overall, the fund exhibits a straightforward, physical replication strategy with direct investment in equities, minimal derivative use for risk management, no leverage, and no complex underlying assets, leading to a non-complex classification under MiFID II."
}