{
    "fund_name": "Xtrackers MSCI World UCITS ETF",
    "isin": "IE00BJ0KDQ92",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Physical replication of a broad, liquid equity index",
        "No leverage or inverse exposure",
        "No capital protection mechanisms",
        "No complex underlying assets (e.g., CoCos, AT1 bonds, CLOs)",
        "No significant counterparty risk from derivatives"
    ],
    "classification": "non-complex",
    "supporting_data": "The Xtrackers MSCI World UCITS ETF is a physically replicated ETF that tracks the MSCI Total Return Net World Index, which consists of large and mid-cap equities from developed markets. The fund uses direct replication (physical) methodology, as confirmed in the factsheet, meaning it invests directly in the underlying securities of the index. There is no mention of synthetic replication, swaps, or derivative instruments used for investment purposes. The fund does not employ leverage, inverse strategies, or capital protection mechanisms. The underlying index is a broad, liquid equity index, and the fund's risk profile is straightforward, with risks primarily tied to equity market fluctuations. The fund's ongoing charges are low (0.19%), and there are no performance fees or complex fee structures. The fund is UCITS-compliant, which typically implies a higher standard of transparency and investor protection. The factsheet and KIID confirm that the fund does not use derivatives for investment purposes, only for risk management and cost reduction, which is standard for ETFs. The fund's complexity factors are minimal, and the risks are easily understandable by retail investors.",
    "confidence": 95
}