{
    "fund_name": "SPDR MSCI ACWI Climate Paris Aligned 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 SPDR MSCI ACWI Climate Paris Aligned UCITS ETF is classified as non-complex under MiFID II regulations. The primary reasons for this classification are: (1) The fund uses physical replication to track its index, holding the underlying securities directly rather than using synthetic replication or derivatives as a core strategy. (2) While the KIID mentions the fund may use financial derivative instruments for efficient portfolio management, this appears to be for operational purposes rather than as a fundamental part of the investment strategy. (3) The fund has a straightforward investment objective of tracking the MSCI ACWI Climate Paris Aligned Index. (4) The risk profile (category 6) is primarily driven by the volatility of global equities rather than complex financial structures. (5) There are no indications of leverage, inverse strategies, or capital protection mechanisms that would typically trigger complex classification. (6) The fund is UCITS compliant, which imposes certain investor protection standards. (7) The underlying assets are liquid, publicly traded equities from developed and emerging markets. While the fund incorporates ESG screening which adds some complexity to the index construction, this doesn't fundamentally alter the straightforward equity exposure. The derivative usage mentioned appears to be for efficient portfolio management rather than as a core investment strategy, which under MiFID II guidelines would not typically trigger complex classification.",
    "confidence": 90
}