{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers MSCI Taiwan UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the MSCI Taiwan 20-35 Custom Index by direct physical replication, buying all or a substantial number of the underlying securities. The KIID and PRIIPs documents confirm the fund is passively managed with a straightforward index-tracking objective. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only limited use of derivatives for risk management purposes, which does not trigger complexity. The fund does not employ leverage, inverse or amplified exposure. The underlying assets are large and mid-cap Taiwanese equities, which are liquid and transparent. The risk profile is medium-high (5/7) due to emerging market and single country concentration risks, not due to structural complexity. No capital protection or structured features are present. Costs are simple with a single ongoing charge of 0.29% and no performance fees or swap fees. The factsheet explicitly states the replication method is direct physical replication. There are no references to complex bonds, contingent convertible bonds, or structured products. No counterparty risk from swaps or derivatives is disclosed. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits characteristics of a non-complex ETF under MiFID II criteria."
}