{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI EM IMI ESG Screened UCITS USD (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 that aims to replicate the MSCI EM IMI ESG Screened Index by holding the underlying equity securities directly in similar proportions. The KIID and PRIIPs KID documents confirm the fund uses physical replication and only limited use of financial derivative instruments (FDIs), which are expected to be minimal and not inherent to the investment strategy but rather for efficient portfolio management or risk mitigation. 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 mainly due to emerging market equity risk and ESG screening reducing investable universe), with no capital protection or structured features. Costs are straightforward with a simple TER of 0.18%, no performance fees, and no swap or derivative fees disclosed. The monthly factsheet confirms physical replication, a large number of holdings (~2800), and no indication of synthetic or leveraged strategies. The ESG screening and emerging market focus add some complexity in terms of investment universe and risk but do not trigger MiFID II complexity classification. There is no PRIIPs comprehension warning or other complexity flags. Therefore, the ETF is classified as non-complex under MiFID II rules."
}