{
    "complex": false,
    "classification": "non-complex",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "supporting_data": "The Xtrackers MSCI USA ESG UCITS ETF is a physically replicated ETF that tracks the MSCI USA Low Carbon SRI Selection Index. The KIID and factsheet indicate that the fund uses direct replication (physical) of the index constituents, which is a non-complex indicator under MiFID II. While the KIID mentions that the fund may employ derivatives for risk management, cost reduction, and efficiency purposes, this is explicitly stated as not for leverage or speculative purposes. The fund does not exhibit any of the key complexity indicators such as synthetic replication, leverage, inverse exposure, or capital protection mechanisms. The risk profile is classified as category 6, which is high but not necessarily indicative of complexity under MiFID II. The fund is UCITS-compliant, further supporting its non-complex classification. The absence of swaps, funded/unfunded derivatives, or complex underlying assets reinforces this determination.",
    "confidence": 95
}