{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Edge MSCI Europe Momentum Factor 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 equity ETF tracking the MSCI Europe Momentum Index using physical replication with an optimised sampling approach. The KIID and PRIIPs KID documents confirm that the Fund invests directly in equity securities that make up the index or similar securities, with no mention of synthetic replication, swap agreements, or total return swaps. The Fund may use financial derivative instruments (FDIs) only for direct investment purposes, but this is not inherent to the strategy and is limited, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The risk indicator is medium (4 out of 7 in PRIIPs KID, 6 in KIID but this is due to equity market risk and factor concentration, not complexity). The Fund engages in short-term securities lending to generate additional income, but this does not increase complexity classification. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. The underlying assets are liquid European equities, with no complex bonds or structured products. No capital protection or structured features are present. Costs are straightforward with a TER of 0.25%, no performance fees, and no swap or derivative fees. Counterparty risk disclosures relate to custodial and securities lending counterparties, typical for physical ETFs, not indicative of synthetic complexity. Overall, the Fund exhibits a straightforward, physical, index-tracking equity strategy with no leverage or synthetic elements, thus classified as non-complex under MiFID II."
}