{
    "fund_name": "Xtrackers MSCI World Health Care UCITS ETF",
    "isin": "IE00BM67HK77",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Physical replication",
        "Direct investment in global equities",
        "No leverage or inverse exposure"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication (direct investment in underlying securities) as confirmed in the factsheet ('Direct Replication (physically)'). There is no mention of synthetic replication, swaps, or leverage in either the KIID or factsheet. The fund tracks the MSCI World Health Care Total Return Net Index, which is a straightforward equity index. The risk profile is clearly stated as 'Lower risk' to 'Higher risk' with a risk rating of 6, which is typical for equity ETFs. The fund does not employ capital protection mechanisms or structured features. The only derivative-related mention is for 'efficient portfolio management' (e.g., risk management), which is standard for ETFs and does not trigger complexity under MiFID II. The factsheet explicitly states 'Direct investment in Global Equities' and 'Direct Replication (physically)', reinforcing the non-complex nature.",
    "confidence": 95
}