{
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": "Derivatives used for currency hedging, not for index replication",
    "classification": "non-complex",
    "supporting_data": "The Xtrackers MSCI AC World Screened UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, rules-based equity index. It uses derivatives solely for currency hedging at the share class level, not for index replication, which is a standard and limited use under UCITS rules for efficient portfolio management. There is no evidence of leverage, synthetic replication, embedded swaps, or other complex features that would make the product difficult for a retail investor with basic knowledge to understand. The UCITS presumption of non-complexity applies, and the limited derivative use for hedging does not, in this case, override that presumption, as the risks introduced (primarily currency and counterparty risk from hedging derivatives) are disclosed, well-managed, and ancillary to the core investment strategy[1]. The ETF does not hold complex bonds, use significant securities lending, or have other features that would typically trigger a complex classification under MiFID II Article 57. The index is transparent and the structure is straightforward, supporting a non-complex determination."
}