{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Xtrackers MSCI Global SDG 9 Industry, Innovation & Infrastructure UCITS ETF is a physically replicated ETF that tracks the MSCI ACWI IMI SDG 9 Industry, Innovation and Infrastructure Select Index. The KIID and factsheet indicate that the fund uses direct replication (physical) to achieve its investment objective, which is a non-complex indicator under MiFID II. The fund does not employ leverage, inverse strategies, or synthetic replication. While the KIID mentions that derivatives may be used for risk management, this is a common practice for efficient portfolio management (EPM) and does not inherently make the fund complex. The risk profile is classified as category 6, which is relatively high but does not alone indicate complexity. The fund is UCITS-compliant, which generally aligns with non-complex classifications. The underlying index is transparent and based on well-defined ESG criteria, further supporting the non-complex classification.",
    "confidence": 95
}