{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares S&P 500 Paris-Aligned Climate",
    "investment_objective": "To track the S&P 500 Net Zero 2050 Paris-Aligned Sustainability Screened Index by investing in equity securities that make up the index, reflecting capital growth and income.",
    "primary_asset_class": "Equity",
    "geographic_focus": "United States (S&P 500 large-cap companies)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant physical replication ETF that invests directly in the equity securities of the S&P 500 Net Zero 2050 Paris-Aligned Sustainability Screened Index. The KIID and PRIIPs KID explicitly state the fund aims to replicate the index by holding the underlying securities in similar proportions. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative counterparty risk as an inherent part of the investment strategy. While the fund may use financial derivative instruments (FDIs) to help achieve the investment objective, this is described as ancillary and not a core element of the strategy, thus derivatives are marked false. There is no leverage, inverse or amplified exposure language. The risk profile is medium-high (5 out of 7), consistent with equity market risk and ESG screening, but not indicative of complexity due to derivatives or leverage. The fund holds a diversified portfolio of approximately 291 large-cap US equities, with no complex underlying assets such as contingent convertible bonds or CLOs. The ongoing charges are low (0.07%), with no performance fees or swap fees. Securities lending is conducted but revenue sharing does not increase costs. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. No capital protection or structured features are present. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}