{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "derivatives": false,
    "swaps": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Invesco MSCI World Universal Screened UCITS ETF is classified as non-complex under MiFID II based on the following analysis: 1. Replication Method: The fund uses physical replication (as confirmed in the PRIIPs KID and fact sheet), which is a non-complex indicator. 2. Derivative Usage: While the KIID mentions the fund 'may use derivative instruments for the purposes of managing risk, reducing costs or generating additional capital or income,' the PRIIPs KID and fact sheet confirm no actual derivative usage (no swaps, no leverage). 3. Leverage/Inverse: No leverage or inverse exposure is indicated in any document. 4. Underlying Assets: The fund invests in large/mid-cap equities from developed markets with no complex underlying assets mentioned. 5. Risk Profile: The risk category 6 is standard for equity ETFs and not indicative of complexity. 6. UCITS Compliance: The fund is UCITS-compliant, which typically aligns with non-complex classification. 7. Transparency: The fund provides clear, frequent pricing and holds liquid, transparent securities. The only potential complexity factor is the ESG screening methodology, but this does not trigger complexity under MiFID II. The fund's structure, risk profile, and derivative usage (or lack thereof) align with standard, non-complex ETFs.",
    "confidence": 95
}