{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI Japan UCITS ETF 7C - CHF Hedged",
    "investment_objective": "To reflect the performance of the MSCI Total Return Net Japan Index while minimizing foreign currency fluctuations at share class level",
    "primary_asset_class": "Equity",
    "geographic_focus": "Japan",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication by buying all or a substantial number of the securities in the MSCI Total Return Net Japan Index. The fund employs derivatives only for currency hedging purposes to reduce the effect of exchange rate fluctuations between the fund's assets (JPY) and the share class currency (CHF). There is no indication of synthetic replication, total return swaps, or counterparty exposure. The fund is UCITS compliant and does not use leverage or inverse strategies. The risk profile is medium-high (5 out of 7) mainly due to equity market exposure and currency risk, not due to structural complexity. Costs are straightforward with a TER of 0.25% and no performance fees. Securities lending is minimal and disclosed transparently. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms direct physical replication and no use of swaps for index replication. Overall, the fund exhibits a clear, linear relationship to the underlying index performance with minimal derivative use solely for risk management, thus classifying it as non-complex under MiFID II."
}