{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco Cybersecurity UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Invesco Cybersecurity UCITS ETF is a passively managed ETF aiming to replicate the S&P Kensho Global Cyber Security Screened Index by physical replication, holding all securities in the index in similar proportions. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only derivatives used for risk management or cost reduction, which does not trigger complexity under MiFID II. The fund does not employ leverage, inverse or amplified exposure. The underlying assets are global listed equities focused on cybersecurity, which are liquid and transparent. There are no capital protection or structured features. The risk profile is medium-high (5 out of 7), consistent with equity market risk and sector concentration, but not indicative of complexity. Costs are straightforward with a single ongoing charge of 0.35%, no performance fees, and no swap or derivative fees. Securities lending is used but is a common practice and does not add complexity. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication, no use of swaps, and UCITS compliance. Overall, the fund\u2019s structure and strategy are straightforward and transparent, leading to a non-complex classification under MiFID II."
}