{
    "type": "ETF",
    "ucits": true,
    "fund_name": "HSBC MSCI EUROPE ISLAMIC ESG UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The HSBC MSCI Europe Islamic ESG UCITS ETF is a UCITS-compliant ETF that physically replicates the MSCI Europe Islamic ESG Universal Screened Select Index by investing directly in the underlying shares. The fund uses physical full replication, holding approximately 104 large and mid-cap equities across 15 developed markets. There is no indication of synthetic replication, swap agreements, or derivative instruments used for investment purposes; derivatives are only used for limited Shariah-compliant FX hedging. The fund does not employ leverage or inverse strategies, and there are no capital protection or structured product features. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 out of 7 in KIID, reflecting market volatility rather than complexity). Costs are straightforward with a TER of 0.30%, no performance fees, and no swap or derivative fees. The underlying assets are liquid, transparent equities without complex structured products or contingent bonds. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication and no use of swaps or leverage. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}