{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Invesco Global Clean Energy UCITS ETF is a physically replicated ETF that tracks the WilderHill New Energy Global Innovation Index. It uses direct investment in underlying securities and does not employ leverage, inverse strategies, or synthetic replication. While the KIID mentions the potential use of derivatives for risk management, this is explicitly stated to be for purposes such as reducing costs or generating additional capital or income, which falls under efficient portfolio management (EPM) and does not introduce complexity. The fund is UCITS-compliant, has a clear investment objective, and provides regular risk disclosures. The risk level is categorized as 7, but this is primarily due to the volatility of the clean energy sector and small-cap exposure rather than structural complexity. The absence of synthetic replication, leverage, or complex underlying assets supports the non-complex classification.",
    "confidence": 95
}