{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Edge MSCI World Minimum Volatility UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF tracking the MSCI World Minimum Volatility Index. It uses physical replication with direct investment in equity securities, as confirmed by the KIID and the factsheet stating 'Product Structure: Physical' and 'invests in equity securities that make up the Index'. The Fund may use financial derivative instruments (FDIs) but only for direct investment purposes and expected to be limited, indicating derivatives are used for risk management rather than as an inherent part of the strategy, so derivatives = false. There is no mention of synthetic replication, swap agreements, or counterparty exposure related to swaps. No leverage or inverse exposure is present; the risk indicator is medium (4 out of 7 in PRIIPs KID, 6 in KIID but driven by equity market risk and factor concentration, not complexity). The Fund does not employ capital protection, structured features, or complex underlying assets such as contingent convertible bonds or CLOs. Costs are straightforward with a TER of 0.30%, no performance fees, and no swap or derivative fees. The Fund engages in securities lending but this is disclosed transparently and does not increase complexity. The index tracked is a minimum volatility index, which is a factor-based index but not inherently complex under MiFID II. No comprehension warnings or complexity flags appear in the PRIIPs KID. Overall, the ETF exhibits a clear, linear relationship to the underlying equity performance with physical replication and minimal derivative use, leading to a non-complex classification."
}