{
    "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 Fidelity Europe Equity Research Enhanced UCITS ETF is classified as non-complex under MiFID II regulations. The fund primarily invests in equity securities of European companies and uses derivatives solely for efficient portfolio management and currency hedging, not for leverage or synthetic replication. The fund is UCITS-compliant, physically replicated, and does not employ leverage, inverse strategies, or complex underlying assets. The risk profile is clearly disclosed, and the fund's objective is straightforward capital growth through active management. The absence of synthetic replication, leverage, or complex derivatives usage supports this classification.",
    "confidence": 95
}