{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Xtrackers MSCI Europe Consumer Staples Screened UCITS ETF is a physically replicated ETF that tracks the MSCI Europe Consumer Staples Screened 20-35 Select Index. The KIID and factsheet indicate that the fund uses direct replication (physical) to achieve its investment objective, with no mention of synthetic replication, swaps, or leverage. While the fund may use derivatives for risk management or efficient portfolio management, this is explicitly permitted under MiFID II without triggering a 'complex' classification, as long as the derivatives are not used to create leverage or amplify returns. The fund's risk profile is classified as level 6, which is high but not necessarily indicative of complexity under MiFID II. The underlying assets are large and mid-cap European consumer staples stocks, which are liquid and transparent. There are no indications of capital protection mechanisms, structured features, or complex underlying assets. The fund is UCITS-compliant, which generally aligns with non-complex classifications. The use of ESG screening does not introduce complexity under MiFID II rules.",
    "confidence": 95
}