{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI USA ESG Enhanced UCITS ETF EUR Hedged (Acc) aims to replicate the MSCI USA ESG Enhanced Focus CTB Index by holding the underlying equity securities in similar proportions, indicating physical replication. The KIID and PRIIPs KID confirm the Fund is a UCITS ETF with a straightforward passive equity investment strategy focused on US equities screened for ESG criteria. The Fund uses financial derivative instruments only for currency hedging (FX forwards) and possibly short-term secured lending to offset costs, not for synthetic replication or leverage. There is no mention of swap agreements, total return swaps, or derivative instruments used for replication. The risk profile is medium-high (5 out of 7) due to equity market exposure and ESG screening but does not indicate complexity from derivatives or leverage. The fact sheet confirms physical replication methodology and no use of swaps or leverage. Costs are simple with a low TER (0.10%) and no performance fees. No capital protection or structured features are present. Counterparty risk disclosures relate mainly to custodial and FX counterparties, typical for UCITS ETFs. No complexity flags such as contingent bonds, leverage, inverse exposure, or synthetic replication are identified. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}