{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The Vanguard FTSE Developed World UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, well-diversified equity index. It uses derivatives only for efficient portfolio management (EPM) with minimal impact on risk-return, not as a core strategy. There is no significant leverage, no embedded derivatives, no swaps, and no inverse or complex features. The structure, risks, and objectives are straightforward and easily understood by retail investors with basic knowledge. All UCITS are automatically non-complex under MiFID II unless they employ complex strategies or structured features, which this ETF does not[1]. The use of derivatives is limited and disclosed, and the replication method is physical, supporting transparency and simplicity. No complex factors such as contingent convertible bonds, leverage, swaps, or complex indices are present. Therefore, the ETF is classified as non-complex."
}