{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI Mexico Capped 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 Mexico Capped Index by physically holding the equity securities that make up the index in similar proportions. The KIID and PRIIPs KID explicitly state the use of physical replication and direct investment in underlying equities. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as part of the core investment strategy. While the Fund may use financial derivative instruments (FDIs) to help achieve investment objectives, this is described as ancillary and not an inherent element of the strategy, thus derivatives are marked false. There is no leverage, inverse or amplified exposure language present. The risk profile is medium-high (5 out of 7) due to emerging market equity exposure and concentration risks, not due to structural complexity. The monthly factsheet confirms physical replication and no use of swaps or complex underlying assets. The Fund is UCITS compliant, with a straightforward index-tracking objective investing directly in liquid, transparent equity securities. No capital protection or structured features are present. Costs are standard with no swap or performance fees. Counterparty risk disclosures relate to normal operational risks, not to synthetic structures. Therefore, under MiFID II, this ETF is classified as non-complex."
}