{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Invesco FTSE All-World UCITS ETF aims to track the FTSE All-World Index using a physical replication method with sampling techniques. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or factsheet. The fund uses physical securities sampling rather than full replication but does not employ derivatives as an inherent part of the investment strategy, only possibly for risk management (currency hedging via FX forwards). There is no leverage, inverse exposure, or capital protection features. The risk rating is moderate (4 out of 7 in PRIIPs KID, 6 in KIID but consistent with equity risk), which aligns with a standard equity ETF risk profile. The fund is UCITS compliant, domiciled in Ireland, and uses a transparent, liquid underlying index composed of large- and mid-cap equities globally. The factsheet confirms physical replication and no use of swaps or complex derivatives. Securities lending is used but is a common practice and does not add complexity under MiFID II. No complex underlying assets such as contingent convertible bonds or CLOs are held. No performance fees or complex fee structures are present. The PRIIPs KID does not carry a comprehension warning. Therefore, the ETF does not meet the MiFID II criteria for a complex financial instrument."
}