{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI World SRI UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant exchange-traded fund that aims to replicate the MSCI World SRI Select Reduced Fossil Fuel Index by physically holding the underlying equity securities in similar proportions to the index. The KIID and PRIIPs KID documents confirm the use of physical replication with no synthetic replication or swap agreements mentioned. The Fund may use 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 indicated. The risk profile is medium (risk level 4 out of 7 in PRIIPs KID, 6 in KIID but mainly due to equity market risk and counterparty risk related to safekeeping and securities lending, not due to complex derivatives or leverage). The Fund invests directly in liquid, transparent equity securities with ESG screening, and does not hold complex underlying assets such as contingent convertible bonds or CLOs. The monthly factsheet confirms physical replication, no mention of swaps or synthetic structures, and a straightforward equity portfolio with 387 holdings. Costs are simple with a TER of 0.23%, no performance fees, and no swap or derivative fees. The Fund engages in securities lending but this is disclosed and does not add complexity under MiFID II. No capital protection or structured features are present. The PRIIPs KID does not carry a comprehension warning or complexity flag. Overall, the ETF exhibits none of the complexity indicators such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms, leading to a non-complex classification under MiFID II."
}