{
    "type": "ETF",
    "ucits": true,
    "fund_name": "ARK Genomic Revolution UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ARK Genomic Revolution UCITS ETF is an actively managed equity ETF investing primarily in global equity securities of companies involved in genomics and related technologies. 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 factsheet confirms the fund invests directly in equities (35 holdings) across multiple sectors with no indication of derivative or swap usage. There is no leverage or inverse exposure mentioned. The risk profile is high (6-7 out of 7) due to the nature of the underlying technology and small-cap equities, but this risk arises from market and sector volatility rather than structural complexity. No capital protection or structured features are present. Costs are straightforward with a single ongoing charge (TER) of 0.75%, no performance fees, and no swap or derivative fees. The fund is UCITS compliant and physically replicates its portfolio by direct equity holdings. The PRIIPs KID does not include any comprehension warnings or complexity flags related to derivatives or leverage. Therefore, under MiFID II criteria, the fund is classified as non-complex because it uses physical replication, has no leverage, no synthetic or derivative replication, and invests in liquid, transparent equity securities with a clear investment objective."
}