{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI EM Asia UCITS ETF USD (Acc)",
    "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 EM Asia Index by holding the underlying equity securities in similar proportions, indicating physical replication. The KIID and PRIIPs KID documents confirm the use of physical replication with no mention of synthetic replication, swap agreements, or total return swaps. The fund may use financial derivatives only for direct investment purposes or risk management, but this is minimal and not inherent to the strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure mentioned. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID due to emerging market risk), but this is typical for emerging market equity funds and not due to structural complexity. The fund invests in liquid, transparent equity securities of emerging Asian markets, with no complex underlying assets such as contingent convertible bonds or CLOs. 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. The monthly factsheet confirms physical replication, no use of swaps, and a diversified portfolio of 586 holdings in liquid equities. Counterparty risk disclosures relate to normal custody and securities lending risks, not complex derivative counterparty risk. There is no PRIIPs comprehension warning or other complexity flags. Overall, the fund is a standard physical replication UCITS ETF tracking a well-known equity index, with no leverage or synthetic elements, thus classified as non-complex under MiFID II."
}