{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco S&P World Financials ESG UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Invesco S&P World Financials ESG UCITS ETF is a passively managed ETF aiming to track the net total return of the S&P World ESG Enhanced Financials Index by holding, as far as practicable, all securities in the index in their respective weightings. The replication method is physical, confirmed by the factsheet stating 'Replication Method: Physical'. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as part of the investment strategy. Derivatives may be used only for risk management or cost reduction purposes, which under MiFID II does not classify the fund as complex. There is no leverage, inverse or amplified exposure language. The underlying assets are equities of large and mid-cap financial companies in developed markets, which are liquid and transparent. The fund is UCITS compliant, domiciled in Ireland, and has a risk rating of 6 (medium-high) due to sector concentration and equity market risks, not due to structural complexity. Costs are straightforward with a single ongoing charge of 0.18%, no performance fees, and no complex fee structures. Securities lending is used but is a common practice and does not add complexity under MiFID II. The PRIIPs KID does not carry any comprehension warnings or complexity flags. The index tracked applies ESG and carbon intensity screens but does not involve complex structured products or contingent bonds. No capital protection or structured features are present. Overall, the fund exhibits none of the key complexity indicators such as synthetic replication, leverage, complex derivatives, or capital protection mechanisms. Therefore, it is classified as non-complex under MiFID II."
}