{
    "name": "Xtrackers Physical Gold ETC",
    "type": "ETC",
    "ucits": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Xtrackers Physical Gold ETC is a physically backed product that provides direct exposure to gold prices without the use of derivatives or leverage. The ETC is backed by allocated gold stored in secure vaults, and each security entitles the holder to a specified quantity of gold. The product does not use synthetic replication, swaps, or other derivative instruments, and there is no leverage or inverse exposure. The risk profile is straightforward, with the primary risk being the volatility of gold prices. The costs are transparent and consist mainly of a simple annual fee. The product is designed for long-term investment and is intended for retail investors with a basic understanding of financial products. The physical replication method and the absence of complex financial instruments or strategies make this product non-complex under MiFID II regulations.",
    "confidence": 95,
    "risk_level": 4,
    "counterparty_risk": false,
    "illiquid_assets": false,
    "structured_features": false,
    "capital_protection": false,
    "benchmark_complexity": false
}