{
    "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 World Momentum ESG UCITS ETF (1C) is classified as non-complex under MiFID II based on the following analysis: 1. Replication Method: The factsheet explicitly states 'Direct Replication (physically)', confirming physical replication rather than synthetic methods. 2. Derivative Usage: While the KIID mentions potential derivative use for risk management, the factsheet clarifies this is for efficient portfolio management (e.g., reducing costs), not for leverage or complex strategies. 3. Risk Profile: The fund tracks a momentum-based index but does not employ leverage or inverse strategies. 4. Transparency: The fund is UCITS-compliant, with clear disclosure of risks and costs. 5. Underlying Assets: The index constituents are large/mid-cap equities with ESG screens, not complex instruments. 6. No Complex Features: No capital protection, structured products, or contingent bonds are involved. The only potential complexity factor is the momentum strategy, but this is standard for equity indices and does not trigger MiFID II complexity rules. The PRIIPs KID does not include a comprehension warning, further supporting the non-complex classification.",
    "confidence": 95
}