{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI Japan UCITS ETF 4C - EUR Hedged",
    "replication_method": "physical",
    "leverage": false,
    "inverse": false,
    "derivatives": false,
    "swaps": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the MSCI Total Return Net Japan Index by buying all or a substantial number of the underlying securities directly, indicating physical replication. The use of derivatives is limited to currency hedging to reduce foreign exchange risk, not as an inherent part of the investment strategy, so derivatives are considered non-complex in this context. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk exposure. The fund does not employ leverage, inverse or amplified exposure. The underlying assets are large and mid-cap Japanese equities, which are liquid and transparent. There are no capital protection or structured product features. The risk profile is medium-high (category 5 out of 7), reflecting market and currency risks typical of equity ETFs, but not complexity. Costs are straightforward with a TER of 0.40% and minimal securities lending revenue. The factsheet confirms direct physical replication and no use of swaps. The PRIIPs KID does not include any comprehension warnings or complexity flags beyond normal equity and currency risks. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}