{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Edge MSCI World Minimum Volatility Advanced UCITS ETF EUR Hedged (Acc)",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF that aims to track the MSCI World Minimum Volatility Advanced Select Index using physical replication with optimising techniques. The KIID and PRIIPs KID confirm that the Fund invests primarily in equity securities that make up the Index or similar securities, with no mention of synthetic replication or use of swap agreements. The Fund uses financial derivative instruments (FDIs) only for currency hedging purposes (e.g., FX forward contracts), which is considered risk management rather than an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure language. The risk indicator is medium (4 out of 7 in PRIIPs, 6 in KIID but consistent with equity risk), with no capital protection or structured features. The Fund engages in securities lending, but this is standard and does not add complexity. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. The benchmark index is a minimum volatility ESG screened equity index, which is complex in construction but does not itself trigger MiFID II complexity classification for the ETF. No contingent bonds, CoCos, CLOs or structured products are held. Counterparty risk is limited to custodial and derivative counterparties for FX hedging, typical for UCITS ETFs. Costs are straightforward with a TER of 0.35%, no performance fees, and no swap or derivative fees. Overall, the ETF exhibits a straightforward, physical, equity index tracking strategy with currency hedging, no leverage, no synthetic replication, and no complex underlying assets, leading to a non-complex classification under MiFID II."
}