{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares BIC 50 UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The iShares BIC 50 UCITS ETF aims to replicate the FTSE BIC 50 Net of Tax Index by physically holding the equity securities that make up the index, including American Depositary Receipts and Global Depositary Receipts. The KIID and PRIIPs KID documents confirm the fund uses physical replication and direct investment in underlying equities, with no mention of synthetic replication, swap agreements, or funded/unfunded swaps. The fund may use financial derivatives only for risk management purposes, not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure indicated. The underlying assets are equities of large companies in Brazil, India, and China, which are liquid and transparent. No capital protection or structured features are present. The risk profile is medium-high (5 out of 7), reflecting emerging market equity risk and currency risk, but not complexity from derivatives or leverage. Costs are straightforward with a TER of 0.74%, no performance fees, and no complex fee structures. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. There are no complexity flags such as contingent convertible bonds or complex structured products. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}