{
    "ok": true,
    "_meta": {
        "isin": "IE0007YZZZN7",
        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "balanced",
        "policy_mode_description": "UCITS ETFs usually start from a non-complex baseline, but product-level complexity such as synthetic replication, swaps, leverage, inverse exposure, complex debt, commodity roll exposure, or comprehension warnings can override that baseline.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-13T21:37:13+00:00",
        "captured_unix": 1781386633
    },
    "classification": "complex",
    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etf_priips_comprehension_alert_hard_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Invesco Nasdaq-100 Income Advantage UCITS ETF",
    "isin": "IE0007YZZZN7",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": true,
        "derivatives_epm_only": false,
        "swaps": false,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": false,
        "counterparty_risk": true,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
        "complex_index": false,
        "priips_comprehension_alert": true,
        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": true,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "PRIIPs comprehension alert"
    ],
    "non_complex_factors": [
        "UCITS fund",
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "high",
        "drivers": [
            "Derivatives appear core to the investment strategy",
            "Less liquid or harder-to-value underlying exposure language",
            "Counterparty risk language identified",
            "PRIIPs comprehension alert language",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings"
        ],
        "plain_english_explanation": "The available evidence identifies features that may affect ordinary retail investor understanding. The assessment describes product-level mechanics only and does not judge the knowledge or experience of a specific client.",
        "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment."
    },
    "supporting_evidence": [
        {
            "source": "KIID",
            "signal": "priips_comprehension_alert",
            "quote": "WARNING: You are about to purchase a product that is not simple and may be difficult to understand."
        },
        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "The Fund seeks to generate income using covered call and/or cash secured put strategies."
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "Options are financial contracts that represent the right to buy or sell an asset at a stated price within a specified period."
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "An ELN investment is also subject to counterparty risk, which is the risk that the issuer of the ELN will default or become bankrupt and the Fund may not be repaid the principal amount of, or income from, its investment."
        },
        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "The Fund may engage in securities lending, whereby 90% of the revenues arising from securities lending will be returned to the Fund and 10% will be retained by the securities lending agent."
        },
        {
            "source": "KIID",
            "signal": "illiquid_or_hard_to_value_underlying",
            "quote": "ELNs may also be less liquid than more traditional investments."
        }
    ],
    "supporting_data": "Hard complex product feature identified: PRIIPs comprehension alert. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified",
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE0007YZZZN7_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13285,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE0007YZZZN7.txt",
            "found": true,
            "http_code": 200,
            "bytes": 15434,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE0007YZZZN7_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11634,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE0007YZZZN7&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 790,
            "error": null
        }
    }
}