{
    "fund_name": "Xtrackers MSCI World High Dividend Yield ESG UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "ESG screening complexity",
        "Dividend yield optimization"
    ],
    "classification": "non-complex",
    "confidence": 90,
    "supporting_data": "The ETF uses physical replication (as confirmed in the factsheet) and does not employ leverage, inverse strategies, or swaps. While it uses derivatives for efficient portfolio management (as mentioned in the KIID), this is standard practice for many ETFs and does not trigger complexity under MiFID II. The ESG screening and dividend yield optimization add some complexity, but the overall structure remains transparent and suitable for retail investors. The risk profile (category 6) is moderate, and the fund is UCITS-compliant, further supporting its non-complex classification. The factsheet confirms direct replication, and the PRIIPs KID does not contain a comprehension warning, reinforcing the non-complex determination."
}