{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI EMU ESG Screened 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 exchange-traded fund that aims to track the MSCI EMU ESG Screened Index through physical replication of equity securities. The KIID and PRIIPs KID documents confirm the fund invests directly in equities that make up the index or similar securities, with only limited and incidental use of financial derivative instruments (FDIs) for direct investment purposes, not for leverage or synthetic replication. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or structured products. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID but driven by equity market risk and ESG screening constraints rather than complexity). Costs are straightforward with a low ongoing charge (0.12%) and no performance fees. Securities lending is conducted but revenue sharing does not increase costs. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. No capital protection or structured features are present. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, invests in liquid, transparent equity securities, and uses derivatives only incidentally for efficient portfolio management, not as an inherent element of the strategy. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}