{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI AC Far East ex-Japan Small Cap UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to track the MSCI AC Far East ex-Japan SmallCap Index through physical investment in equity securities that make up the index or similar securities, using optimising techniques. The KIID and PRIIPs KID documents confirm the use of physical replication with no mention of synthetic replication, swap agreements, or derivative instruments as a core part of the investment strategy. Derivatives may be used only for direct investment purposes or risk management, but not as an inherent element of the strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The fund invests in liquid equity securities, including ADRs and GDRs, with no complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID but mainly due to emerging market and small cap exposure), with no capital protection or structured features. Costs are straightforward with no swap or performance fees. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. Counterparty risk is mentioned only in the context of safekeeping and securities lending, which is standard and does not imply complexity. No complexity flags such as capital protection, leverage, or complex derivatives are present. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}