{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI EMU Paris-Aligned Climate EUR (Dist) Share Class",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF physically replicating the MSCI EMU Climate Paris Aligned Benchmark Select Index by holding the underlying equity securities in similar proportions. The KIID and PRIIPs KID documents confirm the fund uses physical replication and only mentions limited use of financial derivative instruments (FDIs) to help achieve the investment objective, but these are not inherent to the strategy and are not used for synthetic replication or leverage. There is no mention of swap agreements, total return swaps, or counterparty exposure related to derivatives. The fund does not employ leverage, inverse or amplified exposure. The risk indicator is moderate (4 out of 7 in PRIIPs KID, 6 in KIID but driven by equity market risk and ESG screening, not complexity). The monthly factsheet confirms physical replication methodology and no use of synthetic structures or complex underlying assets. The fund invests directly in liquid, transparent equity securities with ESG criteria applied, and does not hold complex structured products or contingent convertible bonds. Costs are straightforward with a TER of 0.15%, no performance fees, and no swap or derivative fees. Securities lending is used but revenue sharing does not increase costs. No capital protection or structured features are present. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits none of the MiFID II complexity triggers such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex."
}