{
    "fund_name": "KraneShares CSI China Internet UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The KraneShares CSI China Internet UCITS ETF is a physically replicated ETF that tracks the CSI Overseas China Internet Index. The KIID explicitly states that the fund does not intend to use financial derivative instruments or total return swaps, and it employs a full replication strategy by holding the underlying securities of the index. The fund's risk profile is high (category 7), but this is due to the volatility of the underlying assets (China Internet stocks) rather than structural complexity. The fund is UCITS-compliant, which imposes additional investor protection requirements, and it does not employ leverage, inverse strategies, or synthetic replication. The absence of derivatives, swaps, or other complex financial instruments, combined with the straightforward physical replication method, supports the classification as non-complex under MiFID II.",
    "confidence": 95
}