{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Core MSCI EMU UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the MSCI EMU Index by investing directly in the equity securities that make up the index in similar proportions, indicating physical replication. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as part of the core investment strategy. The fund may use financial derivatives only to help achieve investment objectives, but this is not an inherent element of the strategy and is likely for risk management purposes, so derivatives are marked false. There is no leverage, inverse or amplified exposure language. The underlying assets are large and mid-cap equities from developed EMU countries, which are liquid and transparent. The risk indicator in the KIID is 6 (on a scale where 7 is highest), reflecting equity market risk rather than complexity from derivatives or leverage. The PRIIPs KID risk indicator is 4 out of 7, medium risk, consistent with a straightforward equity ETF. The fund is UCITS compliant, with a low ongoing charge of 0.12%, no performance fees, and no complex fee structures. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. There are no capital protection or structured features. Counterparty risk is mentioned only in the context of securities lending and safekeeping, which is standard and does not imply complexity. No references to complex bonds, contingent convertible bonds, or structured products are found. Overall, the ETF is a standard physical equity index tracker with minimal derivative use for risk management, no leverage, and no synthetic replication, thus classified as non-complex under MiFID II."
}