{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Core S&P 500 UCITS ETF USD (Acc)",
    "investment_objective": "To track the return of the S&P 500 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 Index by physically holding the equity securities in similar proportions, as stated in both the KIID and PRIIPs KID. 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, thus derivatives are marked false. There is no leverage or inverse exposure indicated. The risk profile is medium-high (5 out of 7) reflecting equity market risk rather than complexity. The fund is UCITS compliant, uses physical replication, invests in liquid, large-cap US equities, and does not have capital protection or structured features. Costs are straightforward with a low ongoing charge (0.07%) and no performance fees. The monthly factsheet confirms physical replication and no use of swaps or complex underlying assets. No complexity flags such as contingent bonds, leverage, or capital protection mechanisms are present. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}