{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares STOXX Europe 600 Real Estate UCITS ETF (DE)",
    "investment_objective": "Track the performance of the STOXX Europe 600 Real Estate (Price Index) as closely as possible",
    "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 is a UCITS-compliant physical replication fund investing at least 95% in equities that replicate the STOXX Europe 600 Real Estate Price Index. There is no use of synthetic replication, swaps, or total return swaps mentioned. The fund does not intend to use leverage, and any derivative use is only for efficient portfolio management with minimal leverage generated, which does not constitute inherent leverage. The risk profile is medium-high (5 out of 7) due to sector concentration and equity market risks, not due to structural complexity. The PRIIPs KID confirms no complexity warnings or comprehension warnings. The monthly factsheet confirms physical replication, no synthetic structures, and no complex underlying assets such as contingent convertible bonds or structured products. Costs are straightforward with no performance fees or swap fees. Counterparty risk is disclosed as a standard risk related to safekeeping and derivative counterparties but is not significant or structural. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance with transparent holdings and no complex features such as capital protection or leverage. Therefore, it is classified as non-complex under MiFID II."
}