{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares S&P 500 Materials Sector UCITS ETF USD (Acc)",
    "investment_objective": "To track the return of the S&P 500 Capped 35/20 Materials Index through capital growth and income",
    "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 S&P 500 Capped 35/20 Materials Index by holding the underlying equity securities 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 investment strategy. The fund may use financial derivatives only for direct investment purposes, but this is not an inherent element of the strategy and is limited in scope, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The underlying assets are equities of large, liquid US companies in the materials sector, with no complex structured products or contingent bonds. The risk profile is medium-high (5 out of 7), reflecting sector concentration and equity market risk, but not complexity from derivatives or leverage. The fund is UCITS compliant, with a low ongoing charge of 0.15%, no performance fees, and no complex fee structures. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. The PRIIPs KID does not contain any comprehension warnings or complexity flags. Overall, the ETF exhibits a straightforward, transparent, and linear investment strategy with direct investment in liquid equities, consistent with a non-complex classification under MiFID II."
}