{
    "fund_name": "Invesco S&P 500 High Dividend Low Volatility 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 ETF uses physical replication to track the S&P 500 Low Volatility High Dividend Index, investing directly in the underlying securities. There is no mention of synthetic replication, swaps, leverage, or inverse strategies. The fund's risk profile (category 6) is clearly disclosed, and the underlying index consists of 50 U.S. equities with high dividends and low volatility. The PRIIPs KID confirms physical replication and UCITS compliance. No complexity indicators (e.g., capital protection, structured products, or illiquid assets) are present. The fund's straightforward strategy and transparency align with non-complex MiFID II classification.",
    "confidence": 95
}