{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Invesco EQQQ NASDAQ-100 UCITS ETF aims to replicate the NASDAQ-100 Index by physically holding the underlying shares of the index constituents, as confirmed by the factsheet stating 'Physical Replication' and 'To achieve the investment objective the Fund will, as far as practicable, hold all the shares in the Index in their respective weighting.' 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 under MiFID II. The fund does not employ leverage or inverse strategies, and the risk profile is medium-high (risk category 5 in PRIIPs and 6 in KIID), reflecting equity market risk rather than structural complexity. The fund is UCITS compliant, which imposes regulatory limits on leverage and derivative use. Costs are straightforward with a single ongoing charge of 0.30%, no performance fees, and no complex fee structures. Securities lending is used but is a common practice and disclosed transparently. There are no capital protection or structured features. The underlying assets are large-cap, liquid equities, with no exposure to complex bonds, contingent convertibles, or structured products. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the ETF exhibits a clear, linear, physical replication strategy with minimal derivative use for risk management only, no leverage, no swaps, and no complex underlying assets, leading to a non-complex classification under MiFID II."
}