{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Xtrackers FTSE 100 Income UCITS ETF is a physically replicated fund that directly holds the underlying securities of the FTSE 100 Index. The KIID and factsheet confirm that the fund uses direct replication (physical) methodology, which is a strong indicator of non-complexity under MiFID II. While the fund mentions the use of derivatives for efficient portfolio management, this is explicitly stated as being for risk management and cost reduction rather than as a core part of the investment strategy. The risk profile (category 6) is high due to the nature of equity exposure rather than structural complexity. The fund does not employ leverage, inverse strategies, or synthetic replication. The absence of swap agreements, leverage, or complex underlying assets further supports the non-complex classification. The fund's transparency, liquidity, and straightforward index-tracking objective align with non-complex characteristics.",
    "confidence": 95
}