{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares S&P 500 Equal Weight UCITS ETF USD (Acc)",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the S&P 500 Equal Weight Index by holding equity securities in similar proportions to the index, indicating physical replication. The KIID and PRIIPs KID both confirm the use of physical replication with only limited use of financial derivative instruments (FDIs) such as FX contracts or for direct investment purposes, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets like contingent convertible bonds or CLOs. The risk profile is medium-high (5 out of 7) due to equity market exposure, not due to structural complexity. Costs are straightforward with a TER of 0.20%, no performance fees, and no complex fee structures. Securities lending is used but revenue sharing does not increase fund costs. The PRIIPs KID includes a caution that the product is 'not simple and may be difficult to understand,' which is typical language for equity ETFs tracking complex indices but does not imply synthetic or leveraged structures. The monthly factsheet confirms physical replication methodology and no use of swaps or leverage. Overall, the ETF is UCITS compliant, physically replicates a transparent equity index, and uses derivatives only for hedging or FX purposes, not as a core strategy element. Therefore, under MiFID II, this ETF is classified as non-complex."
}