{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Core MSCI Pacific ex-Japan UCITS",
    "replication_method": "physical",
    "leverage": false,
    "inverse": false,
    "derivatives": false,
    "swaps": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the MSCI Pacific ex-Japan Index by physically 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 investment strategy. While the fund may use financial derivatives for investment purposes, the KIID and PRIIPs documents do not indicate that derivatives are an inherent element of the strategy, thus derivatives are marked false. There is no leverage, inverse or amplified exposure language present. The underlying assets are large and mid-cap equities from developed markets in the Pacific region, excluding Japan, which are liquid and transparent. The risk profile is medium (4 out of 7 in PRIIPs, 6 in KIID but driven by equity market risk, not complexity). No capital protection or structured features are present. Costs are straightforward with a TER of 0.20%, no performance fees, and no swap or derivative fees disclosed. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. Counterparty risk is mentioned only in the context of securities lending and safekeeping, which is standard and does not imply complexity. No complex underlying assets such as contingent convertible bonds or CLOs are held. No complexity warnings or comprehension warnings appear in the PRIIPs KID. Therefore, the ETF is classified as non-complex under MiFID II criteria."
}