{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "ESG enhanced index with exclusions and optimization",
            "Financials Sector Concentration Risk"
        ],
        "classification": "non-complex",
        "supporting_data": "The Invesco S&P World Financials ESG UCITS ETF is presumed non-complex due to its UCITS structure and physical replication of the S&P World ESG Enhanced Financials Index. The index seeks to enhance its ESG profile and reduce carbon footprint, including exclusion of certain activities, an optimisation approach to re-weight eligible securities to achieve a higher S&P Global ESG Score. The ETF can use derivative instruments for risk management, reducing costs or generating additional capital or income, but this usage is not central to the investment strategy. The ETF has a financial sector concentration risk. The KID and ESMA publications describe an execution-only regime is in place for non-advised transactions for a firm to determine that investment products are not complex, and for an exemption from the appropriateness test. The lack of leverage and direct reliance on derivatives makes this ETF non-complex."
    }
}