{
    "fund_name": "Scalable MSCI AC World Xtrackers UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "hybrid",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Hybrid replication",
        "Swap usage",
        "Global equity exposure"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses hybrid replication (physical + synthetic) with swap agreements to track the MSCI ACWI Index. While derivatives are used, they appear to be for efficient portfolio management rather than leverage or complex strategies. The fund is UCITS-compliant, has a straightforward equity exposure, and is classified in risk category 6 (moderate-high risk). The KIID and factsheet indicate no leverage, inverse exposure, or capital protection features. The primary complexity factor is the hybrid replication method, but this does not meet MiFID II's threshold for 'complex' classification. The fund's transparency, liquidity, and standard risk profile align with typical non-complex ETFs.",
    "confidence": 85
}