{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco MSCI Europe 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 Europe 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 derivative instruments used as part of the investment strategy. Derivatives may be used only for risk management or cost reduction purposes, which does not trigger complexity under MiFID II. The fund does not employ leverage, inverse or amplified exposure. The underlying assets are large and mid-cap European equities, which are liquid and transparent. There are no capital protection or structured features. The risk profile is moderate (risk category 6 in KIID, 4 in PRIIPs), consistent with equity market exposure but not indicative of complexity. Costs are straightforward with a low ongoing charge (0.16%) and no performance fees or swap fees. Securities lending is used but is a common practice and disclosed. The PRIIPs KID does not carry any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication, no use of swaps or synthetic structures, and a straightforward index with ESG screening. Therefore, the fund does not meet the MiFID II criteria for a complex financial instrument."
}