{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares EURO STOXX 50 ESG UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the EURO STOXX 50 ESG Index by physically holding the equity securities that make up the index in similar proportions, as stated in both the KIID and PRIIPs KID. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as an inherent part of the investment strategy. The Fund may use financial derivatives for direct investment purposes to help achieve investment objectives, but this is limited and not indicative of synthetic replication or complexity under MiFID II. The risk profile is medium-high (5 out of 7), primarily due to equity market risk and ESG screening reducing the investment universe, not due to leverage or complex derivatives. The Fund does engage in securities lending, but this does not increase complexity classification. The monthly factsheet confirms physical replication with no indication of swap usage or leverage. No capital protection or structured features are present. Costs are straightforward with a low ongoing charge (0.10%) and no performance fees. Counterparty risk is disclosed as a standard risk related to safekeeping and derivative counterparties but is not significant enough to classify the ETF as complex. There are no references to leverage, inverse exposure, contingent bonds, or complex structured products. The index tracked is a standard ESG-screened large-cap European equity index without embedded complexity such as contingent convertible bonds or CLOs. Therefore, the ETF is classified as non-complex under MiFID II."
}