{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Xtrackers S&P 500 Equal Weight UCITS ETF is a physically replicated fund that directly holds the underlying securities of the S&P 500 Equal Weight Index. The KIID explicitly states that the fund uses 'direct replication (physically)' and does not employ synthetic replication or swaps. While the fund may use derivatives for risk management, this is limited to efficient portfolio management and does not introduce complexity. The fund has a straightforward investment objective, a clear risk profile (category 6, which is typical for equity ETFs), and no leverage or inverse exposure. The underlying index is transparent and rules-based, with no complex structures. The fund is UCITS-compliant, which generally aligns with non-complex classifications under MiFID II.",
    "confidence": 95
}