{
    "fund_name": "Xtrackers MSCI World Climate Transition UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI World Select Sustainability Screened CTB Index, which consists of large and mid-cap equities from developed markets. The KIID explicitly states that derivatives may be used for risk management, cost reduction, and efficiency purposes, but not as a core strategy. The fund has a straightforward investment objective, a clear risk profile (category 6), and no leverage or inverse exposure. The underlying assets are liquid equities, and the index methodology is transparent and well-documented. The ETF complies with UCITS regulations, which impose strict limits on derivative usage and leverage, further supporting its non-complex classification.",
    "confidence": 95,
    "risk_level": 6,
    "additional_notes": "While the ETF may use derivatives for efficient portfolio management, this does not inherently make it complex under MiFID II, as the usage is limited and not a primary driver of returns. The fund's transparency, liquidity, and adherence to UCITS standards reinforce its non-complex status."
}