{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant, passively managed fund tracking a transparent, diversified equity index (MSCI North America ESG Broad CTB Select Index NR Close) using direct physical replication. Derivatives, if used, are limited to efficient portfolio management (EPM) for handling inflows/outflows and are not central to the investment strategy. There is no significant leverage, no use of swaps or synthetic replication, and no embedded derivatives or complex features. The structure, risks, and investment objective are straightforward and easily understood by retail investors with basic knowledge. The ETF does not hold contingent convertible bonds, complex indices, or other instruments that would introduce opacity or advanced risk profiles. All these factors align with the MiFID II presumption that UCITS ETFs are non-complex unless specific complex features are present, which is not the case here[1]."
}