{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco S&P World Health Care ESG UCITS ETF",
    "investment_objective": "To track the net total return of the S&P World ESG Enhanced Health Care Index, less fees, expenses and transaction costs.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Developed markets globally",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS-compliant ETF that physically replicates the S&P World ESG Enhanced Health Care Index by holding, as far as practicable, all securities in the index in their respective weightings. There is no mention of synthetic replication, swap agreements, or total return swaps. Derivatives are only used for risk management, cost reduction, or generating additional capital or income, which is typical and does not imply complexity under MiFID II. The Fund does not employ leverage, inverse or amplified exposure. The underlying assets are large and mid-cap equities in the healthcare sector, which are liquid and transparent. There are no capital protection or structured features. The risk rating is 6 out of 7 in the KIID, reflecting equity market risk and sector concentration, but this does not alone indicate complexity. Costs are straightforward with a low ongoing charge (0.18%) and no performance fees or swap fees. Securities lending is used but is a common practice and disclosed. The PRIIPs KID confirms no complexity warnings or comprehension warnings. The monthly factsheet confirms physical replication, no synthetic elements, no leverage, and a straightforward index tracking strategy. Therefore, the ETF does not meet the MiFID II criteria for a complex financial instrument."
}