{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares STOXX World Equity Multifactor EUR Hedged (Acc) Share Class",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "Optimised Index Methodology, Multi-Factor Exposure, Currency Hedging",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant physical replication ETF that invests directly in equity securities constituting the STOXX Developed World Equity Factor Screened Index. The fund uses an optimised index methodology to select securities but does not employ synthetic replication or swap agreements. Derivative instruments are used only for currency hedging (FX forwards) and not as an inherent part of the investment strategy, thus derivatives are not considered a complexity factor here. There is no leverage, inverse or amplified exposure. The risk profile is medium (risk level 4 out of 7 in PRIIPs KID), reflecting equity market risk and factor concentration risk, but no additional complexity from structured products or capital protection. The fund engages in short-term securities lending, but this does not increase complexity under MiFID II. No references to contingent bonds, capital protection, or complex structured products are found. Counterparty risk disclosures relate mainly to custody and FX hedging counterparties, typical for physical ETFs. The monthly factsheet confirms physical holdings of 275 equity securities with no synthetic or swap-based replication. The multi-factor index methodology and currency hedging are noted but do not elevate the fund to complex under MiFID II. Therefore, the fund is classified as non-complex."
}