{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fidelity US Quality Income UCITS ETF is a UCITS-compliant equity ETF that physically replicates the Fidelity US Quality Income Index by holding all index securities in similar proportions. The KIID and PRIIPs KID explicitly state the fund uses physical replication and only employs derivatives for efficient portfolio management and currency hedging, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk exposure. The fund does not use leverage or inverse strategies, and the risk indicator is moderate (5 out of 7), consistent with a straightforward equity index tracking product. The monthly factsheet confirms physical replication with 111 holdings, no complex underlying assets such as contingent convertible bonds or CLOs, and no capital protection or structured features. Costs are simple with a single ongoing charge of 0.30%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Overall, the fund exhibits none of the complexity indicators under MiFID II and aligns with a non-complex classification."
}