{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "None identified"
    ],
    "classification": "non-complex",
    "supporting_data": "The VanEck Video Gaming and eSports UCITS ETF (ESPO) is a physically replicated ETF that invests directly in equity securities of companies in the video gaming and eSports sector. The KIID and PRIIPs documents confirm that the fund uses a 'physical (full replication)' strategy, meaning it directly holds the underlying securities of the index it tracks. There is no mention of synthetic replication, swaps, or derivative instruments being used for investment purposes. The fund's risk profile is consistent with a typical equity ETF, with risks related to equity market fluctuations, sector concentration, and smaller companies. The fund does not employ leverage, inverse strategies, or capital protection mechanisms. The underlying index (MarketVector Global Video Gaming & eSports ESG Index) is a straightforward equity index, and the fund's holdings are transparent and easily understandable. The fund is UCITS-compliant, which typically indicates a higher standard of transparency and investor protection. The fact sheet further confirms that the fund uses physical replication and does not rely on derivatives for its investment strategy. Therefore, the fund does not exhibit any of the complexity indicators under MiFID II.",
    "confidence": 95
}