{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco FTSE RAFI All-World 3000 UCITS ETF",
    "investment_objective": "To provide investment results corresponding to the price and yield performance of the FTSE RAFI All-World 3000 Index (Net Total Return) in USD by investing in a representative sample of the index constituents.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global (Developed and Emerging Markets)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fund uses physical replication via representative sampling of the FTSE RAFI All-World 3000 Index constituents, investing directly in equities. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only that derivatives may be used for risk management purposes, which does not trigger complexity. The Fund is UCITS compliant, with no leverage or inverse exposure. The risk rating is medium (4 out of 7 in PRIIPs KID, 6 in MiFID KIID but this is due to emerging market exposure and equity risk, not complexity). No capital protection or structured features are present. Costs are straightforward with no performance fees or swap fees. Securities lending is used but this is common and disclosed with no complexity flags. The index tracked is a fundamental index based on company financial metrics rather than market cap, but this does not inherently add complexity under MiFID II. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. There are no references to complex underlying assets such as contingent convertible bonds or CLOs. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance and invests in liquid, transparent securities. Therefore, it is classified as non-complex under MiFID II."
}