{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Guinness Sustainable Energy UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Guinness Sustainable Energy UCITS ETF is a UCITS-compliant ETF investing primarily in equity or equity-related securities of companies involved in sustainable energy and energy technology sectors globally. The KIID and PRIIPs KID documents indicate the fund uses a physical replication approach, investing directly in underlying securities listed on regulated markets. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments as part of the investment strategy. The fund does not employ leverage or inverse exposure, nor does it invest in complex structured products or contingent convertible bonds. The risk profile is medium-high (5 out of 7), reflecting sector concentration and market volatility rather than complexity from derivatives or leverage. Charges are straightforward with no performance fees or swap fees, and securities lending is disclosed but does not imply complexity. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet (URL provided) does not indicate any use of swaps or derivatives for replication or leverage. Overall, the fund exhibits a clear, linear relationship to the underlying equity performance with minimal derivative exposure used only for risk management if at all, thus qualifying as non-complex under MiFID II."
}