{
    "fund_name": "Xtrackers MSCI USA Screened UCITS ETF",
    "isin": "IE00BJZ2DC62",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Complex index methodology (ESG screening, carbon reduction rules)",
        "Potential for tracking error due to index construction",
        "Securities lending activities"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI USA Select Screened Index, which is a complex index with ESG screening and carbon reduction rules. However, the fund itself does not use derivatives for investment purposes or leverage. The primary complexity factors are the index methodology and potential tracking error, but these do not rise to the level of making the ETF 'complex' under MiFID II. The fund is UCITS-compliant and uses direct replication, which are strong indicators of non-complexity. The factsheet confirms physical replication and no swap usage. The risk profile is straightforward (equity exposure) and the fund is suitable for retail investors.",
    "confidence": 90
}