{
    "fund_name": "Xtrackers DAX ESG Screened UCITS ETF",
    "isin": "LU1221100792",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Currency Hedging",
        "ESG Screening Complexity",
        "Single Country Exposure"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the DAX ESG Screened Index, which is a straightforward equity index. While it uses derivatives for currency hedging (USD hedged share class), this is a common and transparent practice for reducing currency risk. The ETF does not employ leverage, inverse strategies, or synthetic replication. The underlying index is a large-cap German equity index with ESG screening criteria, which does not introduce significant complexity. The risk profile is clearly communicated as category 6 (higher risk), primarily due to equity market volatility. The ETF is UCITS-compliant, which implies adherence to strict transparency and investor protection standards. The use of derivatives is limited to currency hedging, which is a standard practice and does not materially alter the fund's risk profile. The ETF's complexity is further mitigated by its liquidity, daily redemption rights, and the availability of public information. The ESG screening process, while adding a layer of complexity, is managed by third-party providers (STOXX Ltd. and ISS ESG) and does not introduce significant counterparty or operational risks.",
    "confidence": 90
}