{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Invesco S&P World Energy ESG UCITS ETF is classified as non-complex under MiFID II based on the following analysis: 1) Physical replication method (confirmed in the fact sheet), 2) No leverage or inverse exposure, 3) No synthetic replication or swap agreements mentioned, 4) Straightforward equity index tracking with no complex underlying assets, 5) UCITS-compliant structure with transparent risk disclosures. The fund's use of derivatives is limited to risk management and does not create additional complexity. The index itself is a standard equity index with ESG screening, which does not introduce complexity. The fund's risk profile (category 7) is clearly explained and aligns with its equity exposure. No capital protection mechanisms or structured features are present. The fact sheet confirms no swap usage or synthetic replication, reinforcing the non-complex classification.",
    "confidence": 95
}