{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None identified",
    "classification": "non-complex",
    "supporting_data": "The First Trust US Equity Income UCITS ETF is a UCITS-compliant, physically replicated ETF that tracks the NASDAQ US High Equity Income Index. It invests primarily in the underlying equity securities of the index, with no indication of synthetic replication, embedded derivatives, swaps, leverage, or inverse strategies. The fund may use derivatives only for efficient portfolio management (EPM), such as hedging currency risk, but there is no evidence that derivatives are integral to the investment objective or that they materially impact the risk-return profile. The structure, risks (market volatility, tracking error), and investment objective are straightforward and transparent, consistent with the typical non-complex classification for UCITS ETFs under MiFID II[1]. The fundu2019s documentation does not mention complex features such as contingent convertible bonds, complex indices, or other mechanisms that would make the product difficult for a retail investor to understand. Therefore, based on the available information, this ETF meets all criteria for a non-complex classification under MiFID II Article 57 and the UCITS presumption[1]."
}