{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI AC Far East ex-Japan UCITS USD (Acc) Share Class",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the MSCI AC Far East ex-Japan Index by investing directly in the equity securities that make up the index in similar proportions, indicating physical replication. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as an inherent part of the investment strategy. The fund may use financial derivatives only for investment purposes, but this is not indicated as a core strategy and derivatives are not used to gain exposure, so derivative use is considered minimal and for risk management rather than exposure. The fund does not employ leverage, inverse or amplified exposure, nor does it have capital protection or structured features. The risk indicator in the KIID rates the fund at 6 (on a scale where 7 is highest), reflecting the emerging market equity risk profile rather than complexity from structure. The PRIIPs KID classifies the risk as 4 out of 7, medium risk, consistent with equity market risk but no complexity flags such as comprehension warnings or capital protection. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. The fund invests in liquid, transparent equity securities from developed and emerging markets in Far East ex-Japan, with no complex underlying assets like contingent convertible bonds or CLOs. Securities lending is used but this does not increase complexity under MiFID II. Overall, the fund exhibits a straightforward index-tracking strategy with physical replication and minimal derivative use, leading to a non-complex classification under MiFID II."
}