{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares FTSE MIB UCITS ETF EUR (Dist)",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the FTSE MIB Index by physically holding the equity securities that make up the index in similar proportions, indicating physical replication. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as an inherent part of the investment strategy. The Fund may use financial derivatives only to help achieve the investment objective, which is typical for risk management and not indicative of complexity under MiFID II. The risk profile is medium-high (5 out of 7), reflecting equity market risk and concentration in Italian equities, but not complexity from leverage or derivatives. The ongoing charges are straightforward with no performance fees or complex fee structures. The monthly factsheet confirms direct investment in 40 Italian companies with no indication of leverage or synthetic structures. No capital protection or structured features are present. Counterparty risk is disclosed as standard for safekeeping and derivative counterparties but is not significant enough to classify the ETF as complex. There are no references to contingent bonds, leverage, inverse exposure, or complex indices. The PRIIPs KID does not include any comprehension warnings or complexity flags beyond normal equity market risks. Overall, the ETF is a straightforward, physically replicated UCITS ETF tracking a liquid, transparent equity index, and thus is classified as non-complex under MiFID II."
}