{
    "fund_name": "Xtrackers Switzerland 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 Solactive Swiss Large Cap Index (NTR), which consists of the 20 largest Swiss companies. The KIID and PRIIPs documents confirm no use of synthetic replication, swaps, or leverage. The index is straightforward, and the fund's risk profile (category 6) aligns with the volatility of Swiss blue-chip equities. The only derivative-related activity is securities lending (0.01% fee), which is common in ETFs and does not trigger complexity under MiFID II. The absence of capital protection, structured features, or complex underlying assets further supports the non-complex classification.",
    "confidence": 95
}