{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": null,
    "classification": "non-complex",
    "supporting_data": "The Invesco Quantitative Strategies ESG Global Equity Multi-Factor UCITS ETF is classified as non-complex under MiFID II regulations. The primary reasons for this classification are: 1) The fund uses physical replication by directly investing in equities rather than synthetic replication through derivatives or swaps; 2) There is no leverage or inverse exposure in the fund's strategy; 3) The fund's investment objective is straightforward - it aims to achieve long-term returns by investing in global equities that meet ESG criteria; 4) While the fund may use derivatives for efficient portfolio management (currency hedging), this is not a primary investment strategy and does not introduce significant additional risk; 5) The fund is UCITS compliant, which imposes strict regulations on risk management and transparency; 6) The risk profile (category 6) is primarily due to equity market risks rather than complex financial engineering; 7) The fund provides clear and comprehensive information about its strategy, risks, and costs in its KIID and other documents. The quantitative investment model using factors like Value, Quality, and Momentum is sophisticated but does not introduce complexity from a regulatory standpoint as it doesn't involve derivatives or leverage. The ESG screening process is transparent and doesn't add to the financial complexity of the product.",
    "confidence": 95
}