{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Core MSCI EMU UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the MSCI EMU Index by investing directly in 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 core investment strategy. The Fund may use financial derivatives only to help achieve investment objectives, but this is for direct investment purposes and not as an inherent element of the strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure language. The underlying assets are large and mid-cap equities from developed EMU countries, which are liquid and transparent. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID but this is due to equity market risk, not complexity). No capital protection or structured features are present. Costs are straightforward with a low TER of 0.12%, no performance fees, and no swap or derivative fees. 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 PRIIPs comprehension warnings or complexity flags are present. Therefore, the ETF is classified as non-complex under MiFID II."
}