{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI USA ESG Screened UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant exchange-traded fund that aims to replicate the MSCI USA ESG Screened Index by physically holding the underlying equity securities in similar proportions. The KIID and PRIIPs KID documents confirm the use of physical replication with no synthetic or swap-based replication methods mentioned. While the Fund may use financial derivative instruments (FDIs), these are limited to currency hedging (FX forwards) and possibly short-term secured lending to offset costs, which are standard risk management tools and not inherent to the investment strategy, thus derivatives are marked false. There is no mention of leverage, inverse exposure, or capital protection features. The risk profile is medium-high (5 out of 7), reflecting equity market risk and ESG screening constraints, but not complexity from derivatives or leverage. The monthly factsheet confirms a physical product structure and replication methodology, with no indication of synthetic replication or swap usage. The Fund invests directly in liquid, transparent US large and mid-cap equities, excluding controversial sectors per ESG criteria, with no complex underlying assets such as contingent convertible bonds or CLOs. Costs are straightforward with a low TER of 0.10%, no performance fees, and no swap or derivative fees. Counterparty risk disclosures relate mainly to custody and securities lending, which is typical and not indicative of complexity. No capital protection or structured features are present. There is no PRIIPs comprehension warning or other complexity flags. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}