{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI Korea 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 Korea 20/35 Index by physically holding the equity securities in similar proportions to the index, 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 risk management or 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 risk indicator is medium-high (5/7) reflecting emerging market and currency risks, but not complexity from structure. The fund is UCITS compliant. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. Costs are straightforward with no performance fees or swap fees. No capital protection or structured features are present. Counterparty risk is disclosed as a general risk related to safekeeping and derivative counterparties but no significant counterparty exposure is indicated. Overall, the ETF is a straightforward, physically replicated equity index tracker with no leverage or synthetic elements, thus classified as non-complex under MiFID II."
}