{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI EMU Large Cap 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 EMU Large Cap Index by physically holding the equity securities in similar proportions, indicating physical replication. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as an inherent part of the investment strategy. The Fund may use financial derivatives only for investment purposes, but this is not indicated as a core strategy element, so derivatives are considered non-complex and used for risk management or efficient portfolio management. The risk profile is medium-high (5 out of 7), consistent with equity market risk, but no leverage, inverse exposure, or capital protection features are present. The fund invests directly in liquid, large-cap equities from developed EMU countries, with no complex underlying assets such as contingent convertible bonds or CLOs. Costs are straightforward with a TER of 0.49%, no performance fees, and no swap or derivative fees disclosed. Securities lending is used but does not increase costs and is disclosed transparently. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance, with minimal derivative exposure and no leverage, making it non-complex under MiFID II criteria."
}