{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares UK Property UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares UK Property UCITS ETF aims to track the FTSE EPRA/Nareit UK Index by investing directly in the equity securities of UK listed real estate companies and REITs, using physical replication. The fund does not hold physical real estate but invests in listed securities, which are liquid and transparent. The use of derivatives is limited to FX forward contracts for currency hedging purposes only, not for investment strategy or leverage, thus derivatives are not considered inherent to the strategy. There is no mention of synthetic replication, swap agreements, or counterparty exposure related to derivatives. The fund does not employ leverage, inverse or amplified exposure. The risk profile is medium-high (risk level 5-6), reflecting sector concentration and equity market risks, but not complexity from derivatives or leverage. Costs are straightforward with a TER of 0.42%, no performance fees, and securities lending revenue sharing that does not increase costs. The PRIIPs KID confirms the fund is a UCITS ETF with physical replication and no complex derivative usage. The monthly factsheet corroborates physical replication and no swap usage. No capital protection or structured features are present. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}