{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Invesco MSCI USA Universal Screened UCITS ETF is a physically replicated ETF that tracks the MSCI USA Universal Select Business Screens Index. It uses direct investment in underlying securities to replicate the index, with no evidence of synthetic replication, leverage, or inverse strategies. While the KIID mentions the use of derivatives for risk management, reducing costs, or generating additional capital or income, this is explicitly stated as being for efficient portfolio management (EPM) purposes rather than as a core part of the investment strategy. The fund does not exhibit any of the key complexity indicators under MiFID II, such as synthetic replication, leverage, or significant counterparty risk. The risk profile is transparent, and the fund is UCITS-compliant, further supporting its classification as non-complex. The ESG screening and index methodology, while sophisticated, do not introduce complexity from a MiFID II perspective as they are clearly disclosed and do not involve derivatives or leverage.",
    "confidence": 95
}