{
    "fund_name": "Invesco FTSE RAFI Emerging Markets 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 Emerging Markets Index, which consists of 350 companies in emerging markets. The fund does not employ leverage, inverse strategies, or synthetic replication methods. There are no references to swaps, derivatives, or complex structured products in the KIID or PRIIPs documents. The risk profile is rated at level 6, indicating a higher risk due to emerging market exposure, but this does not inherently make the product complex. The fund's strategy is straightforward: holding all constituents of the index in their respective weightings. The PRIIPs KID confirms the physical replication method and UCITS compliance, further supporting the non-complex classification. The absence of derivative usage beyond efficient portfolio management (e.g., securities lending) and the transparency of the underlying index (equities) reinforce this conclusion.",
    "confidence": 95
}