{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Core MSCI Japan IMI UCITS ETF is a UCITS-compliant equity ETF that aims to track the MSCI Japan Investable Market Index (IMI) through physical replication using an optimised sampling technique. The KIID and PRIIPs KID documents confirm that the Fund invests primarily in the underlying equity securities of the index, with only limited use of financial derivative instruments (FDIs) for direct investment purposes or to help achieve the investment objective, but not as an inherent element of the strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The monthly factsheet explicitly states the product structure as 'Physical' and does not indicate any use of swaps or synthetic replication. The Fund does not employ leverage, inverse exposure, or capital protection mechanisms. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID due to equity market risk), consistent with a straightforward equity index tracking product. Costs are simple, with a low ongoing charge of 0.12%, no performance fees, and no complex fee structures. Securities lending is used but only to offset costs and does not add complexity. No complex underlying assets such as contingent convertible bonds or CLOs are held. The Fund\u2019s holdings are broadly diversified across Japanese equities with no illiquid or hard-to-value securities highlighted. There are no complexity flags such as capital protection, structured features, or significant counterparty risk. The PRIIPs KID does not carry any comprehension warnings or complexity disclaimers. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}