{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Global Infrastructure UCITS ETF Hedged GBP Accumulating aims to track the FTSE Global Core Infrastructure Index by physically holding the equity securities that make up the index in similar proportions. The KIID and PRIIPs KID documents confirm the fund uses physical replication, with no mention of synthetic replication, swap agreements, or total return swaps. The fund may use financial derivatives only for currency hedging purposes (e.g., FX forward contracts), which is considered risk management rather than an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure indicated. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID, reflecting sector concentration and equity market risk, but not complexity). The fund invests in liquid, transparent equity securities of infrastructure companies globally, with no complex underlying assets such as contingent convertible bonds or CLOs. No capital protection or structured features are present. Costs are straightforward with a single ongoing charge of 0.70%, no performance fees, and no swap or derivative fees. Counterparty risk is disclosed only in relation to securities lending and safekeeping, which is standard. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. There is no complexity warning or comprehension warning in the PRIIPs KID. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}