{
    "fund_name": "Xtrackers MSCI Thailand UCITS ETF",
    "isin": "LU0514694701",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Emerging market exposure",
        "Single-country concentration risk"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI Thailand TRN Index, which consists of large and mid-cap Thai equities. There is no mention of synthetic replication, swaps, or leverage in the KIID or factsheet. The fund's primary risks are market volatility and emerging market exposure, which are typical for equity ETFs. The use of derivatives is limited to risk management and does not appear to introduce complexity beyond standard ETF practices. The fund is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 90
}