{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI China UCITS ETF",
    "investment_objective": "To reflect the performance of the MSCI China TRN index by buying all or a substantial number of the securities in the index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "China (including companies incorporated in PRC and those connected to China listed on eligible stock exchanges including Hong Kong)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication as confirmed by the factsheet stating 'Portfolio Methodology: 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 or inverse exposure indicated. The underlying assets are large and mid-cap Chinese equities, which are liquid and transparent securities. The risk profile is medium-high (5/7) due to emerging market exposure and country-specific risks, not due to structural complexity. No capital protection or structured features are present. Costs are straightforward with a single ongoing charge of 0.65% and no performance fees or swap fees. The PRIIPs KID does not carry any comprehension warning or complexity flag. The fund is UCITS compliant and open-ended with daily liquidity. Overall, the absence of synthetic replication, leverage, complex underlying assets, or capital protection features leads to a non-complex classification under MiFID II."
}