{
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Complex Index Methodology",
        "Emerging Market Exposure",
        "ESG Screening Complexity"
    ],
    "classification": "non-complex",
    "supporting_data": "The Fidelity Emerging Markets Quality Income UCITS ETF uses physical replication to track the Fidelity Emerging Markets Quality Income Index, which is composed of large and mid-cap dividend-paying companies from emerging markets. The index applies ESG screens and integrates ESG ratings, which adds some complexity but does not make the fund inherently complex. The fund does not use leverage, inverse strategies, or synthetic replication methods. The use of derivatives is limited to efficient portfolio management and currency hedging, which is standard for many ETFs and does not trigger a complex classification under MiFID II. The fund is UCITS-compliant and has a straightforward investment objective, making it suitable for retail investors. The complexity factors identified (complex index methodology, emerging market exposure, and ESG screening) are not sufficient to classify the fund as complex under MiFID II regulations.",
    "confidence": 90
}