{
    "success": true,
    "data": {
        "type": "ETF",
        "ucits": true,
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [],
        "supporting_data": "The Fidelity Global Quality Income UCITS ETF aims to track the Fidelity Global Quality Income Index. The KIID explicitly states that the fund aims to replicate the Index by holding 'all of the Index securities in a similar proportion to their weighting in the Index'. This indicates physical replication. The KIID also mentions that 'The fund may use derivatives for efficient portfolio management and currency hedging purposes.' However, the primary replication method is physical, and the use of derivatives is stated as being for EPM and hedging, not integral to the investment objective. The index methodology is publicly available on www.spdji.com, suggesting transparency. The risk category is 6 out of 7, attributed to considerable fluctuations in investment value, but this reflects market risk, not structural complexity according to MiFID II guidelines. The fund is UCITS compliant, adhering to strict regulations. There is no mention of embedded derivatives, leverage beyond standard UCITS limits, or other complex features. The investment objective and policy are straightforward, focusing on tracking a specific index. The use of derivatives is limited to EPM and currency hedging, which falls under the non-complex category if not integral to the strategy and limited in impact. The index composition (stocks of large and mid-cap dividend-paying companies) is also generally understandable. The KIID emphasizes the aim to track the index as closely as possible, which is typical for physically replicated ETFs. The mention of ESG screening in the index methodology does not inherently introduce complexity from a MiFID II classification perspective.",
        "classification": "non-complex"
    }
}