{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Xtrackers MSCI Europe Materials Screened UCITS ETF is a physically replicated ETF that tracks the MSCI Europe Materials Screened 20-35 Select Index. The KIID and factsheet indicate that the fund uses direct replication (physical) to achieve its investment objective, meaning it holds the underlying securities of the index. While the KIID mentions that the fund may use derivatives for risk management, efficient portfolio management, or securities lending, these uses are not extensive or sophisticated enough to classify the ETF as complex under MiFID II. The fund does not employ leverage, inverse strategies, or synthetic replication. The risk profile is classified as level 6, which is high but not necessarily indicative of complexity. The fund is UCITS-compliant, further supporting its non-complex classification. The factsheet confirms the physical replication methodology and provides transparency on the index composition and ESG screening criteria.",
    "confidence": 95
}