{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Core FTSE 100 UCITS ETF Hedged EUR Accumulating fund aims to replicate the FTSE 100 Index by holding the equity securities that make up the index in similar proportions, indicating physical replication. The KIID and PRIIPs KID documents confirm the use of physical replication with no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as part of the core investment strategy. Derivatives are only used for currency hedging purposes (FX forward contracts), which is considered risk management rather than inherent strategy complexity, so derivatives are marked false. There is no leverage, inverse exposure, or capital protection features mentioned. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID but driven by equity market risk and counterparty risk related to safekeeping, not complexity). The fund is UCITS compliant and uses a straightforward index-tracking objective investing directly in liquid, transparent equity securities. The monthly factsheet confirms physical replication methodology and no use of swaps or complex underlying assets. Securities lending is used but this does not increase complexity under MiFID II. No complex structured products or contingent bonds are held. No performance fees or complex fee structures are present. Overall, the fund is non-complex under MiFID II criteria."
}