{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI World Consumer Staples USD (Dist) Share Class",
    "investment_objective": "To achieve a return reflecting the MSCI World Consumer Staples ESG Reduced Carbon Select 20 35 Capped Index through capital growth and income",
    "primary_asset_class": "Equity",
    "geographic_focus": "Developed markets globally (MSCI World Consumer Staples sector)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the MSCI World Consumer Staples ESG Reduced Carbon Select 20 35 Capped Index by holding the underlying equity securities in similar proportions. There is no mention of synthetic replication, swap agreements, or total return swaps. The fund may use financial derivatives only for investment purposes, but this is not an inherent part of the strategy and derivative use is minimal and for risk management, thus derivatives are marked false. There is no leverage, inverse or amplified exposure. The underlying assets are large and mid-cap equities in developed markets, which are liquid and transparent. The risk profile is medium (4 out of 7 in PRIIPs KID, 5 in KIID but consistent with equity risk), with no capital protection or structured features. Costs are straightforward with a low TER of 0.18%, no performance fees, and no complex fee structures. The fund is UCITS compliant and uses physical replication. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. No complexity flags such as contingent bonds, leverage, or capital protection mechanisms are present. The ESG optimization and index construction do not add complexity under MiFID II. Therefore, the fund is classified as non-complex."
}