{
    "fund_name": "ARK Genomic Revolution UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ARK Genomic Revolution UCITS ETF is a physically replicated, actively managed equity ETF that invests in global companies involved in genomic revolution technologies. The KIID and factsheet indicate no use of derivatives, leverage, or synthetic replication. The fund's investment strategy is based on direct equity holdings in companies across sectors like healthcare, IT, and biotechnology. The risk profile is rated 7, but this is due to the nature of its equity investments rather than structural complexity. The fund does not employ swaps, leverage, or inverse strategies, and there are no indications of complex underlying assets or capital protection mechanisms. The fund is UCITS-compliant, which generally aligns with non-complex classifications under MiFID II.",
    "confidence": 95,
    "risk_level_assessment": "The fund's high risk rating (7) is attributed to the volatility of its equity holdings in innovative and potentially volatile sectors, not to structural complexity. The risks are clearly disclosed and relate to standard equity market risks rather than complex financial engineering."
}