{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers Nikkei 225 UCITS ETF 2D - EUR Hedged",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Xtrackers Nikkei 225 UCITS ETF aims to replicate the Nikkei 225 index primarily through physical replication, as confirmed by the factsheet stating 'Portfolio Methodology: Direct Replication (physically)'. The fund uses derivatives only for currency hedging purposes to reduce the effect of exchange rate fluctuations between the JPY-denominated assets and the EUR share class currency. This use of derivatives is risk management rather than an inherent part of the investment strategy, so derivatives are marked as false for complexity. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to replication. The fund does not employ leverage, inverse exposure, or amplified returns. The underlying assets are highly liquid Japanese equities, specifically the 225 largest and most liquid companies listed on the Tokyo Stock Exchange First Section, with no complex structured products or contingent bonds involved. The risk profile is medium-high (risk level 5 out of 7), reflecting market risk inherent in equity investments, but not complexity from derivatives or leverage. Costs are straightforward with a low ongoing charge (0.19%) and no performance fees or complex fee structures. Securities lending is minimal and does not add complexity. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, with minimal derivative use solely for currency hedging, physical replication, and no leverage or synthetic structures. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}