{
    "fund_name": "Invesco FTSE RAFI Europe UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the FTSE RAFI Europe Index, which consists of large European companies selected based on fundamental factors (sales, cash flow, book value, dividends). The fund holds all constituents of the index in their respective weightings, with limited exceptions. There is no mention of synthetic replication, swaps, leverage, or inverse strategies. The risk profile is rated at level 6, which is moderate, and the fund's investment strategy is straightforward, focusing on passive index tracking. The PRIIPs KID and factsheet confirm physical replication and UCITS compliance, with no indications of complex structures or derivative usage beyond standard portfolio management. The fund's transparency, liquidity, and clear risk disclosures align with non-complex MiFID II classification.",
    "confidence": 95
}