{
    "fund_name": "Xtrackers MSCI Europe Screened UCITS ETF",
    "isin": "LU0322253732",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "inverse": false,
    "derivatives": false,
    "swaps": false,
    "complex_factors": [
        "ESG screening complexity",
        "Carbon emission reduction rules",
        "Rules-based index methodology"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI Europe Select Screened Index, which applies ESG screening and carbon emission reduction rules. While these factors add complexity to the index methodology, they do not involve derivatives, leverage, or synthetic replication. The fund's risk profile (category 6) reflects the volatility of European equities rather than structural complexity. The fact sheet confirms direct replication (physically) and no swap usage. The ETF is UCITS-compliant, further supporting its non-complex classification under MiFID II.",
    "confidence": 90
}