{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares S&P 500 Financials Sector UCITS ETF USD (Acc)",
    "replication_method": "physical",
    "leverage": false,
    "inverse": false,
    "derivatives": false,
    "swaps": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the S&P 500 Capped 35/20 Financials Index by 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 part of the core investment strategy. The Fund may use financial derivative instruments (FDIs) only to help achieve the investment objective, but this is described as ancillary and not inherent to the strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure language. The risk profile is medium-high (5 out of 7), consistent with sector concentration and equity market risk, not complexity. The Fund is UCITS compliant. The monthly factsheet confirms physical replication and direct investment in underlying equities, with no indication of swap usage or complex underlying assets. Costs are straightforward with a TER of 0.15%, no performance fees, and no swap or derivative fees. No capital protection or structured features are present. Counterparty risk is mentioned only in relation to safekeeping and ancillary derivative use, not as a material complexity factor. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the ETF is a straightforward, physical replication equity ETF focused on a single sector index, with no leverage, synthetic replication, or complex underlying assets, leading to a non-complex classification under MiFID II."
}