{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI Europe ESG Screened UCITS EUR (Dist) Share Class",
    "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 Europe ESG Screened Index, which is a subset of the MSCI Europe Index with ESG exclusion criteria. The fund uses physical replication with an optimised sampling approach to hold equity securities directly. The KIID and PRIIPs KID documents confirm that the use of financial derivative instruments (FDIs) is limited and primarily for optimisation or risk management, not as an inherent part of the investment strategy. 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. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID due to equity market risk and counterparty risk related to safekeeping, not derivatives). Costs are straightforward with a low ongoing charge (0.12%) and no performance fees. The monthly factsheet confirms physical replication and no use of swaps or complex underlying assets. The underlying assets are large and mid-cap European equities, liquid and transparent. No capital protection or structured features are present. No complexity flags such as contingent convertible bonds or CLOs are identified. The ESG screening does not add complexity under MiFID II. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance with minimal derivative use for optimisation only, no leverage, and physical holdings, leading to a non-complex classification."
}