{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "inverse": false,
    "derivatives": false,
    "swaps": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI World Screened UCITS ETF GBP Hedged (Dist) is a UCITS-compliant ETF that aims to track the MSCI World Screened Index through physical investment in equity securities. The KIID and PRIIPs KID documents confirm that the Fund invests directly in shares that make up the index or similar securities, using an optimised physical replication approach. The Fund uses FDIs only for currency hedging purposes (FX forwards), not for achieving the investment objective, and the use of FDIs is expected to be limited. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used for replication. The monthly factsheet confirms physical index tracking with no indication of swap usage or leverage. The Fund is not leveraged, inverse, or amplified in exposure. The risk indicator in the KIID rates the Fund at 6 (on a scale where 7 is highest risk), reflecting equity market risk and ESG screening impact, but this does not imply complexity under MiFID II. The PRIIPs KID risk indicator is 4 out of 7, a medium risk level, consistent with a straightforward equity ETF. No capital protection or structured features are present. Costs are simple, with a TER of 0.20%, no performance fees, and no swap or derivative fees. Counterparty risk disclosures relate only to custodial and FX forward counterparties, typical for UCITS ETFs with currency hedging, and do not indicate synthetic replication or complex derivative use. The ESG screening and index optimisation do not add complexity under MiFID II, as the Fund holds liquid, transparent equity securities. There is no leverage, no contingent bonds, no structured products, and no complex derivatives inherent to the investment strategy. Therefore, the Fund is classified as non-complex under MiFID II."
}