{
    "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 ARK Innovation UCITS ETF is an actively managed equity ETF that invests in global equity securities of companies involved in disruptive innovation. It does not use derivatives, swaps, or leverage, and its replication method is physical (direct investment in underlying securities). The fund is UCITS-compliant and has a straightforward investment strategy focused on technology-driven innovation. The risk profile is rated 7 (high risk), but this is due to the nature of the underlying investments (small-cap, technology-focused companies) rather than structural complexity. There are no capital protection mechanisms, structured features, or inverse/exposure amplification. The fund's costs are simple (0.75% TER), and there are no performance fees or complex fee structures. The PRIIPs KID and fact sheet confirm the absence of derivative usage beyond efficient portfolio management. The fund is transparent, with holdings and risk factors clearly disclosed.",
    "confidence": 95
}