{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI USA Screened UCITS ETF USD (Acc)",
    "investment_objective": "To achieve a return reflecting the MSCI USA Screened Index through capital growth and income by investing in equity securities that make up the Index.",
    "primary_asset_class": "Equity",
    "geographic_focus": "United States",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the MSCI USA Screened Index by holding the underlying equity securities directly in similar proportions (physical replication). The KIID and PRIIPs KID documents confirm the use of physical replication with only limited use of financial derivative instruments (FDIs) for direct investment purposes to help achieve the investment objective, not for leverage or synthetic exposure. There is no mention of swap agreements, total return swaps, or synthetic replication structures. The fund does not employ leverage, inverse or amplified exposure. The risk profile is medium-high (5 out of 7), reflecting equity market risk and ESG screening constraints, but not complexity from derivatives or leverage. The fund is UCITS compliant, with a low ongoing charge (0.07%) and no performance fees. The monthly factsheet confirms a broad, liquid portfolio of 526 equity holdings, with no indication of complex underlying assets such as contingent convertible bonds or structured products. Counterparty risk disclosures relate to standard custodial and securities lending counterparties, not to synthetic replication or unfunded swaps. The PRIIPs KID does not include any comprehension warnings or complexity flags beyond normal equity market risks. Overall, the fund exhibits a straightforward, physical replication strategy with minimal derivative use for risk management, no leverage, and no complex structured features, leading to a non-complex classification under MiFID II."
}