{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI USA Islamic UCITS ETF USD (Dist)",
    "investment_objective": "To track the MSCI USA Islamic Index by investing in equity securities compliant with Shari\u2019ah principles",
    "primary_asset_class": "Equity",
    "geographic_focus": "United States",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the MSCI USA Islamic Index by holding the underlying equity securities in similar proportions, using physical replication as confirmed by the factsheet. There is no mention of synthetic replication, swap agreements, or derivative instruments as part of the investment strategy. The fund does not employ leverage or inverse exposure. The underlying assets are large and mid-cap US equities screened for Shari\u2019ah compliance, which are liquid and transparent. The risk profile is medium-high (5 out of 7) reflecting equity market risk and Shari\u2019ah screening but not complexity from derivatives or leverage. Costs are straightforward with a TER of 0.30%, no performance fees, and no swap or derivative fees. The PRIIPs KID and KIID do not contain any complexity warnings or comprehension warnings. Counterparty risk is mentioned only in the context of safekeeping and operational counterparties, not from swap counterparties. There are no capital protection or structured features. Overall, the fund\u2019s structure and strategy are straightforward physical equity index tracking with Shari\u2019ah compliance screens, which does not meet MiFID II criteria for complexity."
}