{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares STOXX Europe 600 Banks UCITS ETF is a UCITS-compliant equity ETF that physically replicates the STOXX Europe 600 Banks Price Index by direct investment in equities, with at least 95% of assets matching the index weighting. There is no indication of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy. The fund does not intend to use leverage, and any minimal leverage arising from financial derivative instruments is solely for efficient portfolio management, not as an inherent part of the strategy, thus derivatives are considered non-complex in this context. The risk profile is medium-high (5 out of 7), reflecting equity market risks and sector concentration, but not complexity from structured products or leverage. The fund does not employ capital protection, structured features, or complex underlying assets such as contingent convertible bonds or CLOs. Costs are straightforward with a TER of 0.46% and no performance fees or swap fees. The monthly factsheet confirms physical replication, no use of swaps or synthetic structures, and direct holdings in liquid European bank equities. There are no references to complex indices, capital guarantees, or significant counterparty risk beyond normal custodial risk. The PRIIPs KID does not include any comprehension warnings or complexity flags. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}