{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF uses derivatives for risk management, reducing costs, or generating income, even though they are not integral to the strategy. The underlying index tracks large and mid-cap US companies with high ESG metrics, incorporating TCFD recommendations and exceeding the EU Paris-Aligned Benchmark standards, thus reducing exposure to transition and physical climate risks and aligning with the Paris Agreement requirements. The methodology includes exclusions, revenue thresholds, and optimization aiming to align the Index to the objectives of the Paris Agreement by reducing the weighting of companies exposed to climate transition risks, maximising the weighting of companies with the highest exposure to climate transition opportunities and minimising the ex-ante tracking error relative to the Parent Index. It may not be easily understood by a retail investor. However the ETF's derivative use is for risk management purposes, not as an inherent element of the strategy - see ESMA guidelines 2019, section 2.3. The KID specifies the use of derivates but the index is a transparent index, the fund aims to track this and so the instrument is considered to be non-complex. The KID states the fund may use derivatives for managing risk, reducing costs or generating additional capital or income, but this does not change the classification.",
        "classification": "non-complex",
        "supporting_data": "The Invesco MSCI USA ESG Climate Paris Aligned UCITS ETF aims to achieve the net total return performance of the MSCI USA ESG Climate Paris Aligned Benchmark Select Index. The fund will, as far as possible and practicable, hold all the securities in the Index in their respective weightings. The fund may use derivatives for risk management.  The ETF is an Article 9(3) Fund. The index tracks the performance of large and mid-capitalisation companies of the US market and aims to reduce exposure to transition and physical climate risks whilst pursuing opportunities arising from the transition to a lower carbon economy while aligning with the Paris Agreement requirements. The index incorporates the TCFD recommendations and is designed to exceed the minimum standards of the EU Paris-Aligned Benchmark as set out in the Commission Delegated Regulation(EU) 2020/1818.  The index is constructed from the MSCI USA Index by applying the index provideru2019s exclusionary criteria.  Involvement and revenue thresholds are defined by the Index provider. The remaining constituents are then subject to an optimisation which has the aim of aligning the Index to the objectives of the Paris Agreement by reducing the weighting of companies exposed to climate transition risks. The Index rebalances on a semi-annual basis.  The structure and risks are straightforward, supporting a non-complex classification. Derivatives are used to manage risks not as the main strategy."
    }
}