{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fidelity Global Quality Income UCITS ETF is a UCITS-compliant equity ETF that physically replicates the Fidelity Global Quality Income Index by holding all index securities in similar proportions. The KIID and PRIIPs KID documents confirm 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, or counterparty risk exposure. The fund does not use leverage or inverse strategies, and the risk indicator is moderate (4 out of 7 in PRIIPs KID, 6 in MiFID KIID but this is due to equity market risk, not complexity). The underlying assets are large and mid-cap dividend-paying equities from developed markets, screened for quality and ESG factors, with no complex structured products or contingent bonds. Costs are straightforward with a single ongoing charge of 0.40%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical replication, no use of swaps, and a diversified portfolio of 251 holdings. There are no capital protection or structured features. No complexity warnings or comprehension warnings appear in the PRIIPs KID. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, with minimal derivative use solely for risk management, and no leverage or synthetic structures. Therefore, it is classified as non-complex under MiFID II."
}