{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Franklin FTSE Developed World UCITS ETF is classified as non-complex under MiFID II for the following reasons: 1) It uses physical replication (full replication of the FTSE Developed Index), as confirmed in both the KIID and the factsheet. 2) There is no mention of synthetic replication, swaps, or derivative instruments beyond the standard disclosure about potential use for efficient portfolio management. 3) The fund has no leverage, inverse exposure, or capital protection features. 4) The underlying assets are straightforward large and mid-cap equities from developed markets, with no exposure to complex instruments like contingent bonds or structured products. 5) The risk profile is clearly articulated and aligns with the typical risks of equity market exposure. 6) The fund is UCITS-compliant, which inherently imposes strict transparency and liquidity requirements. The factsheet confirms the fund holds 1,428 individual securities, further supporting its non-complex classification. The absence of any 'comprehension warning' in the PRIIPs KID also suggests the product is designed for retail investors.",
    "confidence": 95
}