{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI EMU Paris-Aligned Climate EUR (Acc) Share Class",
    "investment_objective": "To achieve a return reflecting the MSCI EMU Climate Paris Aligned Benchmark Select Index through capital growth and income.",
    "primary_asset_class": "Equity",
    "geographic_focus": "European Economic and Monetary Union (EMU) countries",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF that physically replicates the MSCI EMU Climate Paris Aligned Benchmark Select Index by holding the underlying equity securities in similar proportions. There is no mention of synthetic replication, swap agreements, or total return swaps. The Fund may use financial derivatives only for direct investment purposes, but this is limited and not inherent to the strategy, so derivatives are marked false. There is no leverage or inverse exposure. The risk indicator is medium (4 out of 7 in PRIIPs KID, 6 in KIID but this is due to equity market risk and ESG screening, not complexity). The Fund invests in liquid, large and mid-cap equities with ESG criteria applied, no complex structured products or contingent bonds are held. The Fund engages in short-term securities lending, but this does not increase complexity under MiFID II. Costs are straightforward with a TER of 0.15%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. Counterparty risk is limited to custodial and securities lending counterparties, typical for physical ETFs. No capital protection or structured features are present. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the Fund\u2019s structure and strategy are straightforward and transparent, aligning with a non-complex classification under MiFID II."
}