{
    "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 Fidelity Sustainable Global High Yield Bond Paris-Aligned Multifactor UCITS ETF is classified as non-complex under MiFID II for the following reasons: 1. Physical Replication: The fund invests primarily in high-yield corporate debt securities, with no indication of synthetic replication or swap-based strategies. 2. No Leverage or Inverse Exposure: The fund does not employ leverage or inverse strategies, as evidenced by the absence of terms like 'leveraged,' 'inverse,' or 'amplified returns' in the KIID or PRIIPs KID. 3. Straightforward Investment Objective: The fund aims to align with the Paris Agreement and achieve income and capital growth through a portfolio of high-yield bonds, with no complex structured features or capital protection mechanisms. 4. UCITS Compliance: The fund is UCITS-compliant, which inherently limits the use of complex strategies and derivatives beyond efficient portfolio management. 5. Risk Profile: The fund is classified in risk class 4, indicating moderate risk, and does not exhibit the complexity triggers outlined in MiFID II. 6. Derivative Usage: While the KIID mentions the potential use of derivatives for efficient portfolio management and currency hedging, there is no evidence of extensive or sophisticated derivative strategies that would trigger a complexity classification. The PRIIPs KID and factsheet further confirm that the fund's derivative usage is limited to hedging and does not involve leverage or complex structures. 7. Transparency: The fund's holdings are transparent, with a clear focus on high-yield corporate bonds, and the underlying index (Solactive Paris Aligned Global Corporate High Yield USD Index) is designed to be representative of the global high-yield bond market with ESG and climate alignment criteria. The absence of complex indices, contingent bonds, or other sophisticated instruments supports the non-complex classification.",
    "confidence": 95
}