{
    "type": "ETF",
    "ucits": true,
    "fund_name": "VanEck Multi-Asset Balanced Allocation UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The VanEck Multi-Asset Balanced Allocation UCITS ETF is a passively managed, UCITS-compliant ETF that tracks a composite multi-asset index consisting of equity and bond indices. The replication method is physical (optimized sampling), with direct investments in shares and bonds, as confirmed by the KIID, PRIIPs KID, and the factsheet. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used to achieve the investment objective. The fund does not employ leverage, inverse exposure, or capital protection mechanisms. The risk profile is moderate-low (risk level 3-4), consistent with a straightforward multi-asset portfolio. The underlying assets are liquid equities and investment-grade bonds, with no complex structured products or contingent convertible bonds. Costs are simple, with a single ongoing charge (TER) of 0.30%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms physical replication and no use of derivatives for inherent strategy purposes. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}