{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Complex Index",
        "Technology-focused companies"
    ],
    "classification": "non-complex",
    "supporting_data": "The L&G Hydrogen Economy UCITS ETF uses physical replication to track the Solactive Hydrogen Economy Index NTR. The KIID and fact sheet confirm that the fund primarily invests directly in the securities represented in the index in similar proportions to their weightings. There is no mention of synthetic replication, swaps, or leverage. The fund's risk profile is rated 7, which is relatively high, but this is due to the nature of its investments in technology-focused companies in the hydrogen economy, not due to complex derivative strategies. The index itself is complex, as it tracks companies involved in a rapidly evolving industry, but the fund's straightforward replication method and lack of derivative usage mean it does not meet the criteria for a 'complex' financial instrument under MiFID II. The PRIIPs KID does not contain a comprehension warning, further supporting the non-complex classification.",
    "confidence": 90
}