{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Core MSCI Japan IMI UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant exchange-traded fund that aims to track the MSCI Japan Investable Market Index (IMI) through physical replication using an optimised sampling technique. The KIID and PRIIPs KID documents confirm that the fund invests primarily in equity securities of Japanese companies across large, mid, and small caps. While the fund may use financial derivative instruments (FDIs), these are employed only for direct investment purposes and currency hedging (FX forwards) rather than as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or structured products. The risk indicator is moderate (4 out of 7 in PRIIPs KID, 6 in KIID but driven by equity market risk and counterparty risk related to safekeeping, not derivatives). Costs are straightforward with a low ongoing charge (0.17%) and no performance fees or swap fees. Securities lending is used but revenue sharing does not increase costs. The monthly factsheet confirms physical replication and no use of swaps or leverage. The hedging strategy uses FX forwards solely for currency risk management, which does not trigger 'derivatives' = true under MiFID II complexity rules. No capital protection or structured features are present. Therefore, the ETF does not meet the MiFID II criteria for a complex financial instrument."
}