{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI World Communication Services Sector Advanced UCITS ETF USD (Dist)",
    "investment_objective": "To achieve a return reflecting the MSCI World Communication Services Advanced Select 20 35 Capped Index through capital growth and income by investing primarily in equity securities of the index constituents.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Developed markets globally, focused on communication services sector",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fund aims to replicate the MSCI World Communication Services Advanced Select 20 35 Capped Index by holding the underlying equity securities in similar proportions, indicating physical replication. The KIID and PRIIPs KID documents confirm that derivatives may be used only for investment purposes but do not indicate synthetic replication or swap usage. There is no mention of funded or unfunded swaps, total return swaps, or counterparty exposure related to derivatives as an inherent part of the strategy. The risk profile is medium-high (5 out of 7), reflecting sector concentration and equity market risks, but not complexity from leverage or derivatives. The ongoing charges are low (0.18%), with no performance fees or complex fee structures. The monthly factsheet confirms physical replication and no use of leverage or inverse strategies. The underlying assets are large and mid-cap equities in the communication services sector, with no complex structured products or contingent bonds. Securities lending is used but is a common practice and does not increase complexity classification. No capital protection or structured features are present. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}