{
    "fund_name": "Invesco USD IG Corporate Bond ESG UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "ESG screening complexity",
        "Sampling replication method",
        "FX forwards for currency hedging",
        "Complex index methodology"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication with sampling techniques to track the Bloomberg MSCI USD Liquid Corporate ESG Weighted SRI Bond Index. While it may use derivatives for risk management (FX forwards for currency hedging), these are not for leverage or complex strategies. The index itself has complex ESG screening criteria, but the fund's straightforward physical replication and lack of synthetic structures or leverage make it non-complex under MiFID II. The use of derivatives is limited to efficient portfolio management (currency hedging) rather than creating additional risk or complexity. The fund's risk profile (category 4) and disclosure practices align with typical non-complex ETFs.",
    "confidence": 90
}