{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "leverage": false,
        "inverse": false,
        "complex_factors": [
            "Shari'ah compliance screening"
        ],
        "classification": "non-complex",
        "supporting_data": "The iShares MSCI World Islamic UCITS ETF aims to track the MSCI World Islamic Index by holding the underlying equity securities that make up the index. This indicates a physical replication strategy, which is generally considered non-complex. The ETF's objective is to replicate a transparent index, and the KIID does not mention the use of derivatives for replication purposes or any other complex strategies. While the Shari'ah compliance involves screening criteria, this does not inherently make the ETF's structure or risks difficult for a retail investor to understand, as the screening methodology is applied to the index itself. The fact that it is a UCITS ETF further reinforces the presumption of non-complexity due to the stringent regulatory framework governing UCITS. The KIID also highlights that the ETF is suitable for medium to long-term investment, implying a straightforward investment objective. There is no mention of leverage, embedded derivatives, or other features that would typically lead to a complex classification. The use of ADRs and GDRs is permitted as a means to gain exposure to underlying equity securities and does not, in itself, denote complexity in this context."
    }
}