{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The L&G Clean Water UCITS ETF is a UCITS-compliant ETF that primarily invests directly in the securities represented in the Solactive Clean Water Index using physical replication. It may use financial derivative instruments (FDIs) only for limited purposes such as efficient portfolio management, but these are not integral to its investment objective or replication method. The ETF does not employ leverage beyond UCITS limits, does not embed derivatives that alter risk profiles, and tracks a transparent, well-documented index. The risk profile (rated 6/7) reflects market volatility and not structural complexity. Securities lending, if any, is managed within UCITS rules and does not dominate the risk profile. The ETF's structure and risks are straightforward and understandable by retail investors with basic knowledge. According to MiFID II Article 25(4)(a)(iv) and Article 57 criteria, UCITS ETFs using physical replication and limited derivative use for EPM with minimal risk impact are classified as non-complex. There is no indication of embedded derivatives, synthetic replication, significant leverage, or complex structured products such as CLOs. Therefore, the ETF is non-complex under MiFID II and does not require an appropriateness assessment or comprehension alert for retail investors."
}