{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers ATX UCITS ETF",
    "investment_objective": "To replicate the performance of the ATX index, reflecting the Austrian economy through shares of 20 large Austrian companies listed on the Wiener B\u00f6rse.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Austria",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses direct physical replication by purchasing all or a substantial number of the underlying securities in the ATX index, which consists of 20 large Austrian equities. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only that derivatives may be used for risk management purposes, which does not trigger complexity classification. The fund is UCITS compliant and has a straightforward index-tracking objective with no leverage or inverse exposure. The risk profile is medium-high (5/7) due to concentration risk in a single country and equity market volatility, but this does not imply complexity under MiFID II. Costs are simple with a TER of 0.25% and no performance fees or swap fees. Securities lending is conducted but does not increase costs and is disclosed transparently. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms physical replication and no use of swaps or synthetic structures. Overall, the fund is transparent, invests directly in liquid equities, and has a linear performance relationship to the underlying index, thus it is classified as non-complex under MiFID II."
}