{
    "ok": true,
    "_meta": {
        "isin": "IE0003NQ0IY5",
        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "balanced",
        "policy_mode_description": "UCITS ETFs usually start from a non-complex baseline, but product-level complexity such as synthetic replication, swaps, leverage, inverse exposure, complex debt, commodity roll exposure, or comprehension warnings can override that baseline.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-12T11:29:11+00:00",
        "captured_unix": 1781263751
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    "classification": "non-complex",
    "confidence": 0.82,
    "review_required": false,
    "decision_rule_applied": "etf_ucits_physical_no_complex_override_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Xtrackers MSCI World Quality ESG UCITS ETF",
    "isin": "IE0003NQ0IY5",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": true,
        "swaps": false,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": false,
        "counterparty_risk": false,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
        "complex_index": false,
        "priips_comprehension_alert": false,
        "securities_lending": false,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [],
    "non_complex_factors": [
        "UCITS fund",
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified",
        "Derivative use appears limited to EPM, hedging, or risk management"
    ],
    "consumer_understanding": {
        "risk_level": "low",
        "drivers": [
            "Derivative use appears limited to efficient portfolio management, hedging or risk management",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings"
        ],
        "plain_english_explanation": "The product is identified as a UCITS ETF using physical replication or direct portfolio holdings. No leverage, inverse exposure, synthetic replication or structured payoff was identified. Derivative language appears limited to efficient portfolio management, hedging or risk-management style use rather than being the core investment exposure. Some ordinary market, credit, duration, liquidity or counterparty-risk language may still be present, but this does not by itself make the product complex.",
        "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment."
    },
    "supporting_evidence": [
        {
            "source": "KIID",
            "signal": "fund_name",
            "quote": "Xtrackers MSCI World Quality ESG UCITS ETF"
        },
        {
            "source": "KIID",
            "signal": "type",
            "quote": "a sub-fund of Xtrackers (IE) plc"
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "This fund is authorised in Ireland and is regulated by the Central Bank of Ireland."
        },
        {
            "source": "KIID",
            "signal": "investment_objective_summary",
            "quote": "The fund aims to reflect the performance, before fees and expenses, of the MSCI World Quality Low Carbon SRI Screened Select Index."
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_method",
            "quote": "Direct Replication (physically)"
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "The fund may employ techniques and instruments in order to manage risk, reduce costs and improve results. These techniques and instruments may include the use of financial contracts (derivatives)."
        },
        {
            "source": "KIID",
            "signal": "derivatives_epm_only",
            "quote": "The fund may employ techniques and instruments in order to manage risk, reduce costs and improve results. These techniques and instruments may include the use of financial contracts (derivatives)."
        },
        {
            "source": "PRIIPS_KID",
            "signal": "derivatives_epm_only",
            "quote": "The fund may employ techniques and instruments in order to manage risk, reduce costs and improve results. These techniques and instruments may include the use of financial contracts (derivatives)."
        },
        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "no evidence that derivatives are central to generating returns"
        },
        {
            "source": "KIID",
            "signal": "swaps",
            "quote": "no mention of swaps"
        },
        {
            "source": "KIID",
            "signal": "synthetic_replication",
            "quote": "The fund will attempt to replicate the index, before fees and expenses, by buying all or a substantial number of the securities in the index."
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_method",
            "quote": "Direct Replication (physically)"
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [],
    "sources": {
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            "found": true,
            "http_code": 200,
            "bytes": 11116,
            "error": null
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        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE0003NQ0IY5.txt",
            "found": true,
            "http_code": 200,
            "bytes": 16293,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE0003NQ0IY5_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11615,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE0003NQ0IY5&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 540,
            "error": null
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}