{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Invesco Global Corporate Bond ESG UCITS ETF is a physically replicated ETF that tracks the Bloomberg MSCI Global Liquid Corporate ESG Weighted SRI Sustainable Bond Index. It uses sampling techniques to hold a subset of the index's securities, which is a common and non-complex approach. The KIID explicitly states that derivatives are only used for managing risk, reducing costs, or generating additional capital or income, not as a core part of the investment strategy. There is no mention of leverage, inverse exposure, or complex underlying assets like contingent bonds or structured products. The risk profile is rated at level 4, which is moderate and does not indicate complexity. The ETF is UCITS-compliant, which generally aligns with non-complex classifications under MiFID II. The fact sheet confirms the physical replication method and does not indicate any swap usage or complex derivative strategies. The ESG focus does not introduce complexity, as it is based on standard ESG screening methodologies.",
    "confidence": 95
}