{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The KraneShares ICBCCS S&P China 500 UCITS ETF is a UCITS-compliant ETF that physically replicates the S&P China 500 Index by holding at least 80% of its net assets in securities or depositary receipts representing the index constituents. The KIID and PRIIPs KID explicitly state that the Fund does not intend to use financial derivative instruments, repurchase agreements, or total return swaps, and the factsheet confirms physical holdings with no mention of synthetic replication or swap usage. There is no leverage, inverse exposure, or capital protection mechanism. The risk profile is medium-high (category 5-6) due to market volatility and emerging market risks, but this is typical for equity ETFs focused on China and does not indicate complexity under MiFID II. Costs are straightforward with a single ongoing charge (TER) of 0.55%, no performance fees, and no complex fee structures. The underlying assets are large, liquid Chinese equities, with no complex structured products or contingent bonds. No complexity flags such as contingent convertible bonds, leverage, swaps, or structured features are present. Therefore, the ETF is classified as non-complex under MiFID II."
}