{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Refinitiv Inclusion and Diversity UCITS ETF is a UCITS-compliant ETF that physically replicates its underlying index by holding the equity securities in similar proportions to the Refinitiv Global Large/Mid Diversity & Inclusion ex Controversial Weapons Equal Weight Index. The KIID and PRIIPs KID documents confirm the fund is passively managed with a straightforward index-tracking objective, investing primarily in liquid equity securities. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative counterparty risk as an inherent part of the investment strategy. The use of Financial Derivative Instruments (FDIs) is stated to be limited and primarily for investment purposes, not for leverage or synthetic replication, thus derivatives are considered not inherent to the strategy. The fund does engage in short-term securities lending, but this does not increase complexity under MiFID II. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID due to equity market risk), consistent with a physical equity ETF. There is no leverage, inverse exposure, capital protection, or structured product features. The costs are straightforward with a TER of 0.25% and no performance fees. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. The index tracked is a custom ESG and diversity/inclusion index but does not involve complex derivatives or contingent bonds. Therefore, the fund does not meet MiFID II criteria for classification as complex."
}