{
    "fund_name": "Invesco Global Buyback Achievers UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Invesco Global Buyback Achievers UCITS ETF is a physically replicated ETF that tracks the NASDAQ Global Buyback Achievers Index. The KIID and factsheet confirm that the fund uses physical replication, holding all the securities in the index in their respective weightings. There is no mention of synthetic replication, leverage, inverse exposure, or the use of derivatives beyond what might be used for efficient portfolio management (e.g., securities lending). The fund's risk profile is categorized as level 6, but this is based on historical data and does not indicate complexity under MiFID II. The fund's investment objective is straightforward, and the underlying assets are liquid equities. The fund is UCITS-compliant, which generally aligns with non-complex classifications under MiFID II. The absence of any complexity indicators such as leverage, inverse exposure, or synthetic replication supports the classification as non-complex.",
    "confidence": 95
}