{
    "complexity_assessment": {
        "type": "ETF",
        "ucits": true,
        "replication_method": "physical",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "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 physical replication to hold the underlying securities of the index, which is a straightforward and transparent method. While the KIID mentions that the fund may use derivative instruments for managing risk, reducing costs, or generating additional capital or income, this usage is limited to efficient portfolio management (EPM) and does not introduce significant additional risk or complexity. The fund does not employ leverage, inverse strategies, or synthetic replication, and its risk profile is clearly disclosed. The ESG screening and currency hedging do not add complexity beyond what is typical for a standard equity ETF. The fund is UCITS-compliant, which further supports its classification as non-complex under MiFID II.",
        "confidence": 95
    }
}