{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI Europe Mid-Cap Equal Weight",
    "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 track the MSCI Europe Mid-Cap Equal Weighted Index by investing primarily in equity securities of mid-cap companies in developed European markets. The fund uses physical replication with an optimised sampling technique to closely track the index, investing directly in underlying equities rather than synthetic replication or swap-based structures. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative counterparty risk as an inherent part of the investment strategy. While the fund may use financial derivative instruments (FDIs) for direct investment purposes or risk management, these are not a core element of the strategy and derivative use is minimal and incidental, not driving complexity. The fund does engage in short-term securities lending to generate additional income, but this does not increase complexity under MiFID II. There is no leverage, inverse exposure, or capital protection features. The risk profile is medium (4 out of 7 in PRIIPs KID), reflecting equity market risk and factor concentration risk, but not complexity from derivatives or leverage. Costs are straightforward with a TER of 0.25%, no performance fees, and no complex fee structures. The monthly factsheet confirms physical replication, no use of swaps, and direct investment in a broad portfolio of 217 holdings. The fund\u2019s benchmark is a transparent, well-known index without complex structured products or contingent bonds. No PRIIPs comprehension warnings or complexity flags are present. Therefore, the fund is classified as non-complex under MiFID II criteria."
}