{
    "fund_name": "SPDR MSCI World Materials 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 MSCI World Materials 35/20 Capped Index, which consists of global equities in the materials sector. The KIID and PRIIPs documents confirm no leverage, inverse strategies, or synthetic replication methods. The fund's investment policy focuses on direct investment in index constituents, with no mention of swaps, derivatives, or complex structured products. The risk profile (category 6) reflects the volatility of the materials sector rather than structural complexity. The fact sheet further confirms physical replication and no derivative usage beyond standard portfolio management. The fund's transparency, liquidity, and straightforward index-tracking approach align with non-complex MiFID II criteria.",
    "confidence": 95
}