{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Nasdaq 100 Top 30 UCITS ETF aims to replicate the Nasdaq-100 Top 30 UCITS Index by physically holding the equity securities that make up the index. The KIID and PRIIPs KID explicitly state that the Fund uses physical replication and holds the underlying equities directly. While the Fund may use financial derivative instruments (FDIs) such as foreign exchange contracts for hedging or efficient portfolio management, there is no indication that derivatives or swaps are used as an inherent part of the investment strategy. The monthly factsheet confirms the product structure as 'Physical' and the methodology as 'Replicated', with no mention of synthetic replication or swap usage. There is no leverage, inverse exposure, or capital protection features. The risk profile is medium-high (5 out of 7), reflecting equity market risk and concentration risk in large-cap US tech stocks, but not complexity from derivatives or structured products. Costs are straightforward with a TER of 0.30%, no performance fees, and no complex fee structures. Counterparty risk disclosures relate to standard operational risks, not to synthetic replication or unfunded swaps. There are no references to complex underlying assets such as contingent convertible bonds or CLOs. The index tracked is a straightforward market-cap weighted equity index of 30 large Nasdaq-listed companies, with quarterly rebalancing, which does not add complexity. Overall, the ETF exhibits none of the MiFID II complexity indicators such as synthetic replication, leverage, complex derivatives, or capital protection mechanisms. Therefore, it is classified as non-complex."
}