{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI World Health Care Sector Advanced UCITS ETF is a UCITS-compliant ETF that physically replicates the MSCI World Health Care Advanced Select 20 35 Capped Index by holding the underlying equity securities in similar proportions. The KIID and PRIIPs KID documents confirm the fund uses physical replication and does not employ synthetic replication or swap agreements. While the fund may use financial derivative instruments (FDIs) for direct investment purposes or risk management, these are limited and not inherent to the investment strategy, thus derivatives are not considered a complexity factor here. There is no leverage, inverse exposure, or capital protection mechanism. The fund invests in liquid, transparent equity securities within the healthcare sector, with no indication of complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID but this is due to sector concentration and equity market risk, not complexity). Costs are straightforward with a TER of 0.18%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. No complexity flags such as counterparty risk from swaps, leverage, or structured features are present. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}