{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco MSCI USA Universal Screened UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS-compliant ETF that physically replicates the MSCI USA Universal Select Business Screens 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. The Fund may use derivatives only for risk management, cost reduction, or generating additional capital or income, which is typical and does not imply complexity under MiFID II. There is no leverage, inverse or amplified exposure. The underlying assets are large and mid-cap US equities with ESG screening, which are liquid and transparent. No capital protection or structured features are present. The risk rating is 6 out of 7, reflecting market risk and currency hedging risk, but no derivative-related complexity or counterparty risk beyond normal securities lending risk. Costs are straightforward with a low ongoing charge (0.12%) and no performance fees. Securities lending is disclosed but is standard and does not add complexity. The PRIIPs KID does not carry any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication, no use of swaps, and no leverage. The index tracked is a standard ESG-screened equity index with capped issuer weights and semi-annual rebalancing, which does not add complexity. Overall, the Fund exhibits none of the MiFID II complexity triggers such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex."
}