{
    "fund_name": "Fidelity Global Quality Value UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "None identified"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the Fidelity Global Quality Value Index, which consists of large and mid-cap equities from developed markets. There is no mention of synthetic replication, swaps, leverage, or inverse strategies. The fund invests directly in the underlying securities of the index, and there are no references to complex structured products, capital protection mechanisms, or contingent bonds. The risk profile is classified as 6 out of 7, indicating a higher risk level, but this does not inherently make the product complex under MiFID II. The use of derivatives is limited to efficient portfolio management and currency hedging, which is standard for many ETFs and does not trigger complexity. The fund is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 95
}