{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco Solar Energy UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Invesco Solar Energy UCITS ETF is a passively managed ETF aiming to track the MAC Global Solar Energy Index by physical replication, holding as far as possible 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, only that derivatives may be used for risk management or cost reduction, which does not trigger complexity under MiFID II. The fund does not employ leverage, inverse or amplified exposure. The underlying assets are equities in the solar energy sector, which are liquid and transparent securities. There are no capital protection or structured features. The risk profile is high (risk category 6-7) due to sector concentration and emerging market exposure, but this is typical for thematic equity ETFs and does not imply complexity. Costs are straightforward with a single ongoing charge (0.69%) and no performance fees. Securities lending is used but is common and disclosed. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms physical replication and no use of swaps or synthetic structures. Therefore, the ETF is classified as non-complex under MiFID II criteria."
}