{
    "fund_name": "Harbor Health Care 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 Harbor Health Care UCITS ETF is classified as non-complex under MiFID II based on the following analysis:1. **Replication Method**: The KIID does not mention synthetic replication, swaps, or derivative instruments. The fund appears to use physical replication, investing directly in equity securities of healthcare companies.2. **Leverage and Inverse Exposure**: There is no mention of leverage, inverse exposure, or amplified returns in the KIID. The fund's objective is straightforward capital growth through equity investments.3. **Underlying Asset Complexity**: The fund invests in common and preferred stocks of healthcare companies, which are liquid and transparent securities. There is no indication of investment in complex structured products, contingent bonds, or illiquid assets.4. **Capital Protection and Structured Features**: The KIID does not mention any capital guarantee mechanisms, principal protection features, or structured return formulas.5. **Risk Profile**: The risk profile is rated as 6 out of 7, which is relatively high but not indicative of complexity. The risks disclosed are typical for equity funds, such as market risk, liquidity risk, and sectoral concentration risk.6. **Key Risk Disclosures**: The KIID does not contain any warnings about the fund being unsuitable for retail investors or requiring specific investment knowledge. The risks are clearly explained and align with the fund's equity investment strategy.7. **Costs and Charges**: The fund has a straightforward fee structure with an ongoing charge of 0.89%. There are no performance-related fees or complex fee structures.8. **PRIIPs KID and Factsheet**: The PRIIPs KID and factsheet do not provide additional information that would suggest the fund is complex. The fund's strategy and risks are clearly disclosed, and there is no mention of derivatives or complex structures.**Conclusion**: The Harbor Health Care UCITS ETF is a straightforward equity fund that uses physical replication and does not employ complex strategies or instruments. It is suitable for retail investors and does not meet the criteria for a complex financial instrument under MiFID II.",
    "confidence": 95
}