{
    "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 Clean Energy Transition UCITS ETF aims to replicate the S&P Global Clean Energy Transition Index by physically holding the equity securities in similar proportions to the index. The KIID and PRIIPs KID documents confirm the fund uses physical replication rather than synthetic replication or swap-based structures. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative counterparty risk as an inherent part of the investment strategy. While the fund may use financial derivative instruments (FDIs) to help achieve the investment objective, these are used for direct investment purposes and not as a core synthetic replication method, so derivatives are not considered inherent to the strategy. The monthly factsheet explicitly states that some exposure is achieved via Contracts for Difference (CFDs), which are derivatives, but this is limited and used as part of the investment process rather than a synthetic swap structure. There is no leverage, inverse or amplified exposure, and no capital protection or structured product features. The risk rating is 7 out of 7 in the KIID, reflecting the equity sector concentration and market volatility, but this is typical for equity ETFs and does not alone indicate complexity under MiFID II. Costs are straightforward with a TER of 0.65%, no performance fees, and no complex fee structures. The fund is UCITS compliant and physically replicates a transparent, liquid equity index focused on clean energy companies. No complex underlying assets such as contingent convertible bonds or CLOs are held. The presence of CFDs is limited and for investment purposes, not synthetic replication, so derivatives are marked false. Overall, the fund does not meet the MiFID II criteria for a complex financial instrument."
}