{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI World SRI UCITS ETF is a UCITS-compliant equity ETF that physically replicates the MSCI World SRI Select Reduced Fossil Fuel Index by directly holding the underlying equity securities in similar proportions to the index. The KIID and PRIIPs KID documents confirm the fund uses physical replication and only employs financial derivative instruments (FDIs) on an ancillary basis to help achieve the investment objective, not as an inherent part of the strategy, thus derivatives are not considered a complexity factor here. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The fund does not use 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 (4 out of 7 in PRIIPs KID, 6 in KIID but mainly due to equity market risk and ESG screening reducing the investable universe), with no capital protection or structured features. Costs are straightforward with a simple TER of 0.20%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical replication, no use of swaps, and a portfolio of 387 equity holdings across developed markets with ESG criteria applied. The complexity flags such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms are absent. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}