{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The First Trust Value Line Dividend Index UCITS ETF is a physically replicated, UCITS-compliant ETF that tracks the Value Line Dividend Index. The KIID and factsheet indicate that the fund uses full physical replication, investing directly in the underlying equities of the index or depositary receipts where direct investment is not possible. There is no mention of synthetic replication, swaps, leverage, or complex derivatives. The risk profile is rated at 6, which is relatively high but not necessarily indicative of complexity under MiFID II. The fund's objective is straightforward index tracking, and the risks are typical of equity investments. The ongoing charges are clear and transparent, and there are no performance fees or complex fee structures. The fund is UCITS-compliant, which generally aligns with non-complex classification under MiFID II.",
    "confidence": 95
}