{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares NASDAQ 100 UCITS ETF EUR Hedged (Acc) aims to replicate the NASDAQ 100 Index by physically holding the underlying equity securities in similar proportions, indicating physical replication. The fund uses financial derivative instruments (FDIs) only for currency hedging purposes (e.g., FX forward contracts) and not as an inherent part of the investment strategy, so derivatives are not considered a complexity driver here. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or structured products. The risk profile is medium-high (risk level 5-6), reflecting equity market risk and currency hedging risk, but not complexity from derivatives or leverage. Costs are straightforward with a TER of 0.33%, no performance fees, and no swap or derivative fees. Securities lending is used but revenue sharing does not increase costs. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund is UCITS compliant, physically replicates a transparent, liquid equity index, and uses derivatives only for hedging, which under MiFID II does not trigger complexity classification. Therefore, the ETF is classified as non-complex."
}