{
    "fund_name": "Xtrackers MSCI World Materials UCITS ETF",
    "isin": "IE00BM67HS53",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication (direct purchase of underlying securities) as confirmed in the factsheet. There is no mention of synthetic replication, swaps, or leverage. The investment objective is straightforward (tracking the MSCI World Materials Index), and the risk profile (category 6) aligns with the sector-specific exposure to materials equities. The fund does not employ derivatives for investment purposes, only for risk management (e.g., hedging), which does not trigger complexity under MiFID II. The PRIIPs KID and factsheet confirm no 'comprehension warning' or complex structures. The fund is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 95
}