{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI Mexico UCITS ETF",
    "investment_objective": "To replicate the performance of the MSCI Mexico TRN Index by buying all or a substantial number of the securities in the index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Mexico",
    "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 ETF physically replicating the MSCI Mexico TRN Index by direct purchase of underlying securities. The KIID and PRIIPs KID documents confirm the fund uses physical replication and may use derivatives only for risk management purposes, 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 risk profile is medium-high (5/7) due to emerging market exposure and concentration risk, but this is typical for an equity ETF focused on a single emerging market country and does not indicate complexity under MiFID II. The factsheet confirms direct replication and no use of swaps or synthetic structures. Costs are straightforward with no performance fees or swap fees. No capital protection or structured features are present. Therefore, the fund does not meet MiFID II criteria for a complex financial instrument."
}