{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Edge S&P 500 Minimum Volatility EUR Hedged (Acc) Share Class",
    "investment_objective": "To track the S&P 500 Minimum Volatility Index, aiming for capital growth and income reflecting the return of a subset of S&P 500 equities with lowest absolute volatility",
    "primary_asset_class": "Equity",
    "geographic_focus": "United States (large-cap companies)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF physically investing in equity securities that make up the S&P 500 Minimum Volatility Index or similar securities, using optimisation techniques but no synthetic replication or swap agreements are mentioned. The Fund uses financial derivative instruments only for currency hedging (FX forwards), which is considered risk management rather than inherent strategy use of derivatives. There is no leverage, inverse or amplified exposure. The risk indicator is medium (4 out of 7 in PRIIPs KID), reflecting equity market risk and currency risk, but no complexity flags such as capital protection, contingent bonds, or structured products are present. The Fund engages in securities lending, but this is standard and does not increase complexity classification. Counterparty risk is disclosed but limited to custodial and derivative counterparties for hedging, not for synthetic replication. The monthly factsheet confirms direct investment in underlying equities, no use of swaps or synthetic replication. The index tracked is a minimum volatility index, which is a standard equity index with a volatility-based selection methodology, not a complex or structured index. No leverage or inverse terms appear. Overall, the Fund\u2019s structure and strategy are straightforward physical replication with currency hedging, no leverage, no synthetic swaps, and no complex underlying assets. Therefore, under MiFID II, this ETF is classified as non-complex."
}