{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Digital Security UCITS ETF USD (Dist)",
    "investment_objective": "To track the STOXX Global Digital Security Index, providing exposure to global equity securities deriving significant revenues from cybersecurity-related sectors.",
    "primary_asset_class": "equity",
    "geographic_focus": "Global, including developed and emerging markets",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF that aims to replicate the STOXX Global Digital Security Index through physical investment in underlying equity securities. The KIID and PRIIPs KID documents explicitly state the Fund uses 'optimising techniques' which may include limited use of financial derivative instruments (FDIs) for direct investment purposes, but this use is expected to be limited and primarily for efficient portfolio management rather than inherent to the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk related to derivatives. The monthly factsheet confirms the Fund holds 108 equity securities directly, with no indication of derivative or swap usage. The risk profile is medium-high (5 out of 7), reflecting sector concentration and market volatility, but not complexity from leverage or derivatives. Costs are straightforward with a TER of 0.40%, no performance fees, and no swap or derivative fees disclosed. There are no capital protection or structured product features. The Fund invests in liquid, transparent equity securities with a clear, linear relationship to the underlying index performance. No leverage, inverse exposure, or complex underlying assets such as contingent convertible bonds or CLOs are present. The PRIIPs KID does not include any comprehension warnings or complexity flags. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}