{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Xtrackers Emerging Markets Net Zero Pathway Paris Aligned UCITS ETF is a physically replicated ETF that tracks the Solactive ISS ESG Emerging Markets Net Zero Pathway Index. The KIID and factsheet indicate that the fund uses direct replication (physical) of the index constituents, with no mention of synthetic replication, swaps, or leverage. While the KIID notes that the fund may employ derivatives for risk management or efficiency purposes, this is explicitly stated as a secondary technique and not a core part of the investment strategy. The fund's risk profile is classified as category 6 due to emerging market exposure, but this is a function of the underlying asset class rather than structural complexity. The ESG screening and weighting criteria, while sophisticated, do not introduce additional complexity from a MiFID II perspective, as they are transparently disclosed and part of the index methodology. The fund's ongoing charges are straightforward (0.20% TER), and there are no performance fees or complex cost structures. The factsheet confirms physical replication and provides full transparency on holdings and methodology.",
    "confidence": 95
}