{
    "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 Europe Universal Screened UCITS ETF is classified as non-complex under MiFID II regulations. The primary reasons for this classification are: 1) The ETF uses physical replication to track its index, holding the underlying securities directly; 2) While derivatives are permitted for risk management, they are not used as a core part of the investment strategy; 3) The fund has a straightforward investment objective of tracking an ESG-screened version of the MSCI Europe Index; 4) The risk profile (category 6) is primarily due to equity market risks rather than structural complexity; 5) The fund is UCITS-compliant with standard ETF features including daily liquidity and transparent holdings. The ESG screening methodology adds a layer of complexity to the index construction, but this doesn't translate to product complexity under MiFID II as it doesn't affect the fundamental structure or risk profile of the ETF itself. The use of securities lending (with 90% of revenues returned to the fund) is a common practice in ETFs and doesn't constitute complexity under the regulations.",
    "confidence": 95
}