{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Dow Jones Industrial Average UCITS ETF aims to replicate the Dow Jones Industrial Average Index by physically holding the underlying equity securities in similar proportions. The KIID and PRIIPs KID documents confirm the fund uses physical replication and direct investment in the 30 large US companies comprising the index. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as an inherent part of the investment strategy. While the fund may use financial derivatives for risk management purposes, this is not a core element of the strategy, so derivatives are marked false. There is no leverage, inverse exposure, or capital protection features. The risk indicator is medium-high (5 out of 7), reflecting equity market risk rather than complexity. The fund\u2019s holdings are straightforward large-cap US equities, with no complex underlying assets such as contingent convertible bonds or CLOs. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. Costs are simple with a TER of 0.33%, no performance fees, and no complex fee structures. Securities lending is used but does not increase costs materially and is disclosed transparently. There are no complexity flags such as capital protection, structured returns, or significant counterparty risk beyond normal custodial risk. The PRIIPs KID does not carry any comprehension warnings or complexity disclaimers. Overall, the fund\u2019s structure, replication method, underlying assets, and risk disclosures align with a non-complex classification under MiFID II."
}