{
    "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 domiciled in Ireland, tracking the Fidelity US Quality Income Index. The fund uses physical replication by holding all index securities in similar proportions to their weighting, with no indication of synthetic replication or swap usage. The KIID and PRIIPs KID confirm derivatives are used only for efficient portfolio management and currency hedging, not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure mentioned. The underlying assets are large and mid-cap US dividend-paying equities, which are liquid and transparent. The risk profile is medium-high (risk level 5-6 in KIID and PRIIPs), reflecting equity market risk and currency risk, but no complex derivative or structured product risks. No capital protection or structured features are present. Fees are straightforward with a 0.25% ongoing charge and no performance fees or swap fees. The monthly factsheet confirms physical replication, no use of swaps, and a straightforward index methodology based on fundamental and ESG criteria. There are no complexity flags such as contingent bonds, leverage, or significant counterparty risk. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}