{
    "fund_name": "First Trust Indxx NextG UCITS ETF",
    "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 to track the Indxx 5G & NextG Thematic Index, investing directly in equity securities. There is no mention of synthetic replication, swaps, leverage, or inverse strategies. The fund's risk profile (SRRI 6) is high but aligns with its thematic equity focus. The underlying index tracks companies involved in 5G and next-generation technologies, which is complex but does not inherently make the ETF complex under MiFID II. The fund is UCITS-compliant, has a straightforward fee structure, and no capital protection or structured features. The absence of derivatives beyond efficient portfolio management and the transparent, liquid nature of the holdings support the non-complex classification.",
    "confidence": 95
}