{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares US Medical Devices UCITS ETF is a UCITS-compliant exchange-traded fund that physically replicates the Dow Jones U.S. Select Medical Equipment Capped 35/20 Index by directly holding the underlying equity securities in similar proportions. There is no indication of synthetic replication or use of swap agreements, total return swaps, or other derivative instruments as an inherent part of the investment strategy. The fund may use financial derivatives only for investment purposes, but this is not a core element of the strategy and does not imply complexity under MiFID II. There is no leverage, inverse exposure, or capital protection mechanism. The underlying assets are publicly listed US equities in the medical devices sector, which are liquid and transparent. The risk profile is medium-high (risk level 5 out of 7), reflecting equity market risk concentration but not complexity from derivatives or structured products. The costs are straightforward with a TER of 0.25%, no performance fees, and no swap or derivative fees. Securities lending is used but revenue sharing does not increase costs. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication and no use of swaps or leverage. Therefore, the ETF does not meet the MiFID II criteria for classification as a complex financial instrument."
}