{
    "fund_name": "Invesco Wind Energy UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Complex Index (WilderHill Wind Energy Index)",
        "Small-cap and sector concentration risks",
        "ESG screening complexity"
    ],
    "classification": "non-complex",
    "confidence": 90,
    "supporting_data": "The ETF uses physical replication to track the WilderHill Wind Energy Index, which focuses on wind energy companies with ESG screening. While the index itself may have some complexity due to its thematic and ESG-focused nature, the ETF's straightforward physical replication method and lack of leverage, swaps, or inverse strategies make it suitable for retail investors. The primary complexity factors are the index's focus on small-cap companies and sector concentration, but these do not rise to the level of MiFID II complexity. The ETF is UCITS-compliant, further supporting its non-complex classification."
}