{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "derivatives": false,
    "swaps": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI World SRI UCITS ETF is a UCITS-compliant ETF that physically replicates the MSCI World SRI Select Reduced Fossil Fuel Index by holding the underlying equity securities in similar proportions. The KIID and PRIIPs KID documents explicitly state that the Fund aims to invest directly in the equity securities of the index and uses derivatives only potentially to help achieve the investment objective, not as an inherent element of the strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or any funded/unfunded swap structures. The monthly factsheet confirms the product structure as physical replication and does not indicate any use of leverage, inverse exposure, or complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID but driven by equity market risk and counterparty risk related to safekeeping and securities lending, not derivative complexity). Costs are straightforward with a TER of 0.20%, no performance fees, and no complex fee structures. The Fund engages in short-term securities lending, but this does not increase complexity under MiFID II. There are no capital protection or structured features. The ESG screening and index construction methodology, while involving ESG criteria and sector constraints, do not add complexity under MiFID II as the underlying assets are liquid equities. No references to roll costs, contango, backwardation, or complex derivative strategies are present. Therefore, the Fund is classified as non-complex under MiFID II."
}