{
    "type": "ETP",
    "ucits": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The LS ARK Innovation Tracker ETP is a physically-backed product that directly invests in the ARK Innovation ETF, with no leverage, derivatives, or swaps involved. The replication method is physical, and the underlying asset is straightforward (ARK Innovation ETF). The risk indicator is high (6 out of 7), but this is due to the volatility of the underlying asset rather than structural complexity. The product is transparent, with clear disclosure of costs and risks, and is designed to provide 1:1 exposure to the reference asset. The factsheet explicitly states that no derivatives are used, and the structure is simple, with full ownership of the underlying stock. The product is also UCITS-compliant, which generally indicates a non-complex classification under MiFID II.",
    "confidence": 95
}