{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The iShares MSCI China UCITS ETF aims to achieve a return that reflects the MSCI China Index by holding the equity securities that make up the Index. This is a physical replication method. The KIID states that the Fund is passively managed and invests in equity securities. It does not mention the use of derivatives for replication purposes. While the document mentions that the investment manager 'may use financial derivative instruments (FDIs)' to help achieve the Fund's objective, it also clarifies that the Fund aims to replicate the Index by holding the equity securities. The general understanding is that UCITS ETFs using physical replication are considered non-complex. The complexity of the underlying index (MSCI China Index) is not a disqualifying factor for an ETF's classification if the replication method is physical and straightforward. The fund is regulated under UCITS. The risk profile is rated 7, which is attributed to market movements and emerging market specific risks, not to structural complexity or derivative usage. Securities lending is mentioned as a means to generate additional income, but this is a secondary feature and not central to the ETF's investment objective or complexity. There is no mention of leverage, embedded derivatives, or capital protection structures that would render the ETF complex. Therefore, based on the provided KIID, the ETF is classified as non-complex."
    }
}