{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "supporting_data": "The Invesco S&P 500 Quality UCITS ETF is a passively managed, physically replicating ETF tracking a transparent, well-documented equity index (S&P 500 Quality Index). It holds the underlying securities in proportion to their index weights and does not use derivatives as a core part of its investment strategyu2014derivative use is limited to efficient portfolio management (EPM) with minimal impact on risk-return. The ETF may engage in securities lending, but this is a secondary, well-managed feature within UCITS rules and does not dominate the risk profile. There is no significant leverage, no embedded derivatives, no complex index, and no contingent convertible bonds. The structure, risks, and payoff are straightforward and easily understood by retail investors with basic knowledge. The ETF is UCITS-compliant, and all regulatory disclosures are publicly available. No features identified that would override the UCITS presumption of non-complexity under MiFID II Article 25(4)(a)(iv) and Article 57 of the Delegated Regulation.",
    "classification": "non-complex"
}