{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI France UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI France UCITS ETF aims to replicate the MSCI France Index by investing directly in the equity securities that make up the index in similar proportions, indicating physical replication. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as an inherent part of the investment strategy. The Fund may use financial derivatives only for risk management or efficient portfolio management purposes, which does not trigger complexity under MiFID II. The risk profile is medium-high (5 out of 7), consistent with equity market exposure, but no leverage or inverse exposure is present. The Fund holds a diversified portfolio of 58 French large and mid-cap stocks, all liquid and transparent equities, with no complex underlying assets such as contingent convertible bonds or CLOs. The ongoing charges are straightforward with no performance fees or complex fee structures. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. Therefore, the Fund is classified as non-complex under MiFID II criteria."
}