{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI China UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI China UCITS ETF aims to replicate the MSCI China Index by physically holding the underlying equity securities in similar proportions to the index. The KIID and PRIIPs KID documents explicitly state that the Fund uses physical replication and direct investment in equities, with no mention of synthetic replication, swap agreements, or total return swaps. The Fund may use financial derivative instruments (FDIs) only for direct investment purposes or risk management, but this is not an inherent part of the investment strategy, so derivatives are marked as false. There is no leverage, inverse or amplified exposure indicated in any document. The risk rating is 7/7 in the KIID but 5/7 in the PRIIPs KID, reflecting medium to high risk due to emerging market exposure and concentration risks, not complexity from structure. The monthly factsheet confirms physical replication, no use of swaps or synthetic structures, and direct holdings in a broad basket of Chinese equities (570 holdings). No capital protection or structured features are present. Costs are straightforward with a TER of 0.28%, no performance fees, and no complex fee structures. Counterparty risk is mentioned only in the context of securities lending and custody, which is standard. There are no complexity flags such as contingent bonds, leverage, or structured products. The Fund is UCITS compliant and uses a transparent, linear index tracking approach. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}