{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI Canada UCITS ETF",
    "investment_objective": "To replicate the return of the MSCI Canada Index through passive management by investing in equity securities of Canadian companies in similar proportions to the index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Canada",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the MSCI Canada Index by holding the underlying equity securities in similar proportions, as stated in the KIID and factsheet. There is no mention of synthetic replication, swap agreements, or total return swaps. The fund may use financial derivatives only for investment purposes but not as an inherent element of the strategy, and this is typical for risk management or efficient portfolio management, so derivatives are marked false. There is no leverage, inverse or amplified exposure language. The underlying assets are liquid Canadian equities with no complex structured products or contingent bonds. The risk profile is medium-high (5 out of 7) reflecting equity market risk and concentration risk, but no complexity flags such as capital protection or structured features are present. Costs are straightforward with a TER of 0.48%, no performance fees, and no swap or derivative fees. Securities lending is used but revenue sharing does not increase costs. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. Overall, the fund is a straightforward, physically replicated UCITS ETF tracking a liquid equity index, with no leverage or complex derivative usage, thus classified as non-complex under MiFID II."
}