{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Edge MSCI Europe Quality Factor EUR (Acc) Share Class",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "Optimised physical replication with limited derivative use for risk management; no leverage or synthetic swaps; factor index exposure",
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF physically replicating the MSCI Europe Sector Neutral Quality Index using optimising techniques, which may include strategic selection of securities and limited use of financial derivative instruments (FDIs) for direct investment purposes but not as a core synthetic replication method. There is no mention of swap agreements, total return swaps, or funded/unfunded swap structures. The Fund does not employ leverage, inverse or amplified exposure. The risk indicator is medium (4 out of 7 in PRIIPs KID), reflecting equity market risk and factor concentration risk, but no complexity flags such as capital protection or structured features are present. Counterparty risk is disclosed but limited to custodial and derivative counterparties, consistent with standard UCITS ETF operations. Securities lending is used to generate additional income but does not increase complexity. The monthly factsheet confirms physical replication and no synthetic or swap-based replication. The index tracked is a factor-based equity index, which may be less diversified but does not inherently increase MiFID II complexity classification. No contingent bonds or complex structured products are held. Costs are straightforward with a TER of 0.25%, no performance fees, and no complex fee structures. Overall, the Fund\u2019s structure and documentation indicate a non-complex ETF under MiFID II criteria."
}