{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI World ESG Screened UCITS",
    "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 World ESG Screened Index through physical replication of equity securities. The KIID and PRIIPs KID documents confirm the fund invests directly in a broad portfolio of large and mid-cap developed market equities, excluding certain companies based on ESG criteria. The fund uses optimisation techniques and may use FDIs for direct investment purposes, but the use of derivatives is expected to be limited and primarily for efficient portfolio management rather than as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, or counterparty risk related to derivatives. The fund does not employ leverage, inverse exposure, or capital protection mechanisms. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID but driven by equity market risk and ESG screening, not complexity). The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. Costs are straightforward with a TER of 0.20%, no performance fees, and no complex fee structures. No complex underlying assets such as contingent convertible bonds or CLOs are held. The fund\u2019s strategy and holdings are transparent and linear in relation to the underlying index performance. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}