{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Agribusiness UCITS ETF USD (Acc)",
    "investment_objective": "To achieve a return reflecting the S&P Commodity Producers Agribusiness Index through capital growth and income",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global, including developed and emerging markets",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF that physically replicates the S&P Commodity Producers Agribusiness Index by holding the underlying equity securities in similar proportions. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or factsheet. The fund may use financial derivatives only for risk management purposes, not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The risk indicator in the KIID is 6 (medium-high) due to sector concentration and equity market risks, but the PRIIPs KID risk indicator is 4 (medium), reflecting typical equity risk. No capital protection or structured features are present. Costs are straightforward with a TER of 0.55%, no performance fees, and some securities lending revenue sharing. The underlying assets are liquid equities in agribusiness companies globally, with no complex bonds or structured products. Counterparty risk is noted only in relation to custodial and securities lending counterparties, which is standard. No complexity flags such as contingent convertible bonds, leverage, or synthetic replication are identified. The fund\u2019s replication is physical, and the strategy is straightforward index tracking of liquid equities. Therefore, under MiFID II, this ETF is classified as non-complex."
}