{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "leverage": false,
        "inverse": false,
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The iShares MSCI World ESG Screened UCITS ETF aims to achieve a return that reflects the performance of the MSCI World ESG Screened Index. The fund is passively managed and invests in equity securities that make up the index. The index itself is based on the MSCI World Index but excludes companies involved in controversial weapons, tobacco, civilian firearms, fossil fuel extraction, palm oil production, and arctic oil and gas extraction, as well as those violating UN Global Compact principles. The fund uses optimizing techniques, which may include the strategic selection of certain securities or other securities providing similar performance. The use of Financial Derivative Instruments (FDIs) is expected to be limited for this Share Class. The KIID indicates that the fund is rated 'six' on the risk scale, which reflects market risk rather than structural complexity. There is no mention of embedded derivatives, leverage, or other complex structures. The index is based on equity securities of large and mid-capitalisation companies in developed markets, which are generally considered understandable by retail investors. The ESG screening adds a layer of complexity to the index selection but does not inherently make the ETF's structure complex. The fund aims for a similar return to its index through physical replication, which is generally considered non-complex. The documentation does not suggest any features that would typically lead to a complex classification under MiFID II, such as synthetic replication, embedded derivatives integral to the strategy, or complex underlying assets that are difficult for a retail investor to understand. Securities lending is mentioned as a way to reduce costs, with revenue sharing detailed, but this is a secondary activity and does not automatically trigger complexity if managed within UCITS rules and collateral requirements, which is implied here."
    }
}