{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares EURO STOXX Small UCITS ETF is a UCITS-compliant exchange-traded fund that aims to track the EURO STOXX Small Index by investing primarily in the equity securities of small-cap Eurozone companies. The fund uses an optimised physical replication method, investing directly in underlying equities rather than synthetic replication or swap-based structures. The KIID and PRIIPs KID documents confirm the use of physical securities with only limited use of financial derivative instruments (FDIs) for investment purposes, not for leverage or synthetic exposure. There is no mention of 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 such as contingent convertible bonds or structured products. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID due to small cap equity volatility), consistent with direct equity exposure rather than complexity from derivatives or leverage. Costs are straightforward with a TER of 0.40%, no performance fees, and no complex fee structures. Securities lending is used but revenue sharing does not increase costs. The monthly factsheet confirms physical replication and no synthetic or swap-based structures. No capital protection or structured features are present. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, with transparent holdings in liquid equities. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}