{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares STOXX Europe 600 Construction & Materials UCITS ETF (DE)",
    "investment_objective": "Passive replication of the STOXX Europe 600 Construction & Materials Price Index",
    "primary_asset_class": "Equity",
    "geographic_focus": "Europe (18 countries)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to physically replicate the STOXX Europe 600 Construction & Materials Price Index by investing at least 95% in equities matching the index weighting. The fund is UCITS compliant and does not intend to use leverage, although minimal leverage may arise from efficient portfolio management derivatives, which are not inherent to the investment strategy. There is no mention of synthetic replication, swap agreements, or total return swaps in any of the KIID, PRIIPs KID, or factsheet documents. The fund holds direct equity securities in a liquid, transparent sector with no complex underlying assets such as contingent convertible bonds or structured products. The risk profile is medium-high (5 out of 7) reflecting equity market risk and sector concentration, but not complexity from derivatives or leverage. Costs are straightforward with a TER of 0.46%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms physical replication and no use of synthetic instruments or leverage. Counterparty risk is disclosed only in the context of safekeeping and minimal derivative use for efficient portfolio management, not as a material complexity factor. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance and is suitable for retail investors with basic knowledge, consistent with a non-complex classification under MiFID II."
}