{
    "name": "iShares STOXX Europe 600 Food & Beverage UCITS ETF (DE)",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares STOXX Europe 600 Food & Beverage UCITS ETF (DE) is a physically replicated ETF that tracks a well-defined, liquid equity index (STOXX Europe 600 Food & Beverage). The KIID and factsheet confirm it uses physical replication (95%+ duplication of the index) and does not employ leverage, inverse strategies, or synthetic replication. While the KIID mentions minimal derivative use for efficient portfolio management (EPM), this is standard practice and does not introduce complexity under MiFID II. The underlying assets are straightforward equities, and the risk profile (rated 6) is typical for sector-specific equity ETFs. The fund is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 95
}