{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Xtrackers Stoxx Europe 600 UCITS ETF uses physical replication to track the STOXX Europe 600 Index, which consists of large, mid, and small-cap companies from developed European countries. The KIID explicitly states that the fund attempts to replicate the index by buying all or a substantial number of the securities in the index, indicating a physical replication strategy. 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 trigger complexity under MiFID II. The risk profile is classified as category 6, which is relatively high, but this is due to the underlying equity exposure rather than structural complexity. The fund does not employ leverage, inverse strategies, or synthetic replication, and there are no indications of capital protection mechanisms or complex underlying assets. The fund's transparency, liquidity, and straightforward investment objective further support its classification as non-complex.",
    "confidence": 95
}