{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco S&P World Energy 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 Energy ESG UCITS ETF is a passively managed ETF aiming to track the S&P World ESG Enhanced Energy Index by physical replication, holding as far as practicable all securities in the index in their respective weightings. The KIID and PRIIPs KID documents confirm that derivatives may be used only for risk management, cost reduction, or generating additional capital or income, but not as an inherent part of the investment strategy, and no synthetic replication or swap usage is indicated. The factsheet explicitly states the replication method as physical. There is no leverage, inverse or amplified exposure mentioned. The fund invests directly in equities of large and mid-cap energy companies with ESG enhancements, which are liquid and transparent securities. The risk profile is high (6-7) due to equity market exposure and sector concentration, not due to structural complexity. No capital protection or structured features are present. 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 exclusions and optimizations but does not involve complex derivatives or contingent bonds. Overall, the fund exhibits none of the MiFID II complexity indicators such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex."
}