{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Edge MSCI World Momentum",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The iShares Edge MSCI World Momentum UCITS ETF is a UCITS-compliant equity ETF that aims to track the MSCI World Momentum Index by investing primarily in equity securities. The fund uses physical replication with optimising techniques, which may include strategic selection of securities and limited use of financial derivative instruments (FDIs) for direct investment purposes, but these are not inherent to the strategy and are not used for leverage or synthetic replication. There is no mention of swap agreements, total return swaps, or funded/unfunded swap structures. The fund does not employ leverage, inverse exposure, or capital protection mechanisms. The risk profile is medium-high (risk level 5-6), reflecting equity market volatility and factor concentration risk, but not complexity from derivatives or leverage. The fund engages in short-term securities lending, but this does not increase complexity under MiFID II. The monthly factsheet confirms physical replication and no synthetic or swap-based replication. No complex underlying assets such as contingent convertible bonds or CLOs are held. Costs are straightforward with a TER of 0.25%, no performance fees, and no complex fee structures. The PRIIPs KID does not include any comprehension warnings or complexity flags beyond normal equity market risks. Therefore, the fund is classified as non-complex under MiFID II criteria."
}