{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The asset is a UCITS ETF, which under MiFID II Article 25(4)(a)(iv) is generally presumed non-complex due to the strict regulatory framework protecting investors. The ETF invests in equities of companies involved in metaverse, AI, and blockchain technologies, tracking the Solactive Global Metaverse Innovation Index by holding all index securities in similar proportions, indicating physical replication. The fund may use derivatives only for hedging and efficient portfolio management (EPM), which under MiFID II and ESMA guidelines does not automatically trigger complexity if the derivative use is limited and does not significantly impact the risk-return profile. There is no indication of embedded derivatives, leverage beyond UCITS limits, or complex structured products such as CLOs. The ETF's structure and risks (market volatility, tracking error) are straightforward and understandable by retail investors with basic knowledge. The underlying index is transparent and publicly available. Securities lending is not mentioned as a significant feature. Therefore, the ETF meets the criteria of Article 57 of the Commission Delegated Regulation for non-complex instruments: it does not embed derivatives integral to the strategy, has frequent liquidity at market prices, no excess liability beyond investment cost, no clauses altering risk fundamentally, no illiquidity from exit charges, and comprehensive understandable information is publicly available. Consequently, the ETF is classified as non-complex under MiFID II, and no appropriateness assessment or comprehension alert is required for execution-only sales."
}