{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Complex Index",
        "Small/Mid-Cap Exposure"
    ],
    "classification": "non-complex",
    "supporting_data": "The L&G Healthcare Technology & Innovation UCITS ETF uses physical replication to track the ROBO Global Healthcare Technology and Innovation Index. While the index itself is complex (weighted by a proprietary HTEC Score and includes small/mid-cap companies), the ETF's straightforward physical replication method and lack of leverage, derivatives, or swaps make it non-complex under MiFID II. The fund's risk profile (rated 7/7) is primarily due to the underlying index's focus on small/mid-cap healthcare tech companies, not structural complexity. The PRIIPs KID and fact sheet confirm no derivative usage beyond efficient portfolio management, and the UCITS compliance further supports the non-complex classification.",
    "confidence": 90
}