{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ARK Innovation UCITS ETF is an actively managed equity ETF investing primarily in global equity securities of companies involved in disruptive innovation. The KIID and PRIIPs KID documents do not mention any use of synthetic replication, swap agreements, total return swaps, or derivative instruments as part of the investment strategy. The replication method is physical, with direct investment in underlying equities. There is no leverage or inverse exposure indicated. The fund invests in liquid, publicly traded equities, mainly in the technology sector, with no indication of complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is high (6-7 out of 7) due to the nature of the underlying technology equities and market volatility, not due to structural complexity or derivative usage. Costs are straightforward with a single ongoing charge (TER) of 0.75%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms the fund holds 33 equity securities with no mention of derivatives or synthetic structures. There are no capital protection or structured features. The PRIIPs KID does not include any comprehension warnings or complexity flags related to derivatives or leverage. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}