{
    "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 aims to track the MSCI Japan Investable Market Index (IMI) using physical replication with an optimised sampling approach. The KIID and PRIIPs KID confirm the use of physical equity securities primarily, with derivatives (FDIs) used only for currency hedging purposes (FX forwards), not 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 beyond normal custodial and FX hedging risks. The fund is UCITS compliant, with a low ongoing charge of 0.17%, no leverage, no inverse or leveraged exposure, and no capital protection or structured features. The risk rating is 6 in the KIID, reflecting equity market risk and some counterparty risk from custodial and FX hedging activities, but this does not imply complexity under MiFID II. The monthly factsheet confirms physical replication and no use of swaps or complex underlying assets. Securities lending is used but does not increase complexity. No contingent bonds or structured products are held. The fund\u2019s strategy and holdings are straightforward, tracking a broad Japanese equity index with currency hedging. Therefore, the ETF is classified as non-complex under MiFID II."
}