{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fidelity Emerging Markets Quality Income UCITS ETF is classified as non-complex under MiFID II regulations. The ETF uses physical replication to track the Fidelity Emerging Markets Quality Income Index, holding all index securities in similar proportions. The fund does not employ leverage, inverse strategies, or synthetic replication methods. While derivatives are mentioned for efficient portfolio management and currency hedging, they are not used extensively or in a way that creates significant additional risk. The fund's risk profile is transparent, with a clear objective of tracking the index performance. The underlying assets are liquid, transparent equities from emerging markets, and the fund provides adequate public information. The risk level is classified as 6, but this is due to the inherent volatility of emerging markets rather than structural complexity. The fund is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 95
}