{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares MSCI EMU CHF Hedged UCITS ETF",
    "investment_objective": "To track the MSCI EMU 100% hedged to CHF Index, providing capital growth and income reflecting the performance of large and mid-cap companies in the EMU, hedged to CHF currency.",
    "primary_asset_class": "Equity",
    "geographic_focus": "European Economic and Monetary Union (EMU)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the MSCI EMU Index by holding the underlying equity securities in similar proportions. Currency risk is managed via FX forward contracts used for hedging, which are standard risk management tools and not an inherent part of the investment strategy, thus derivatives usage is considered false. There is no mention of synthetic replication, swap agreements, or total return swaps. The fund does not employ leverage or inverse strategies. The risk indicator is medium (4 out of 7 in PRIIPs KID), consistent with equity market risk and currency hedging, but not indicative of complexity. The fund is UCITS compliant, with a straightforward index-tracking objective, investing in liquid, transparent securities. Costs are simple with no performance fees or complex fee structures. The monthly factsheet confirms physical replication and use of short-term FX forwards for currency hedging only. No capital protection or structured features are present. Counterparty risk is limited to custodial and FX forward counterparties, typical for such funds and disclosed as standard risk. Overall, the fund\u2019s structure and strategy align with non-complex classification under MiFID II."
}