{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI World ESG Enhanced UCITS",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The fund is a UCITS ETF physically replicating the MSCI World ESG Enhanced Focus CTB Index by investing directly in equity securities that make up the index or provide similar performance. The KIID and PRIIPs KID documents confirm the use of physical replication and do not indicate synthetic replication or swap usage. The fund uses optimisation techniques and may use financial derivative instruments (FDIs) for direct investment purposes, but these are not inherent to the strategy and are used for risk management or tracking efficiency, thus derivatives are marked false. There is no leverage, inverse or amplified exposure. The risk indicator is medium (4 out of 7 in PRIIPs KID, 6 in KIID but this is due to equity market risk and ESG screening, not complexity). No capital protection or structured features are present. The fund invests in liquid, transparent equity securities with no complex underlying assets such as contingent convertible bonds or CLOs. Costs are straightforward with a TER of 0.20%, no performance fees, and no swap or derivative fees disclosed. Counterparty risk is mentioned only in the context of safekeeping and securities lending, which is standard and does not imply complexity. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. The ESG optimisation and exclusion criteria do not add complexity under MiFID II. Therefore, the fund is classified as non-complex."
}