{
    "name": "iShares STOXX Europe 600 Retail UCITS ETF",
    "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 Retail UCITS ETF is a physically replicated ETF that tracks the STOXX Europe 600 Retail Index. It does not use leverage, inverse strategies, or synthetic replication. The KIID and factsheet indicate that the fund primarily invests directly in equities (95%+ duplication of the index) and uses derivatives only minimally for efficient portfolio management (EPM) purposes. The risk profile is straightforward, with a clear focus on European retail sector equities. There are no indications of complex underlying assets, capital protection mechanisms, or significant counterparty risks beyond standard custodial and operational risks. The fund is UCITS-compliant, which imposes additional investor protection and transparency requirements. While the KIID mentions counterparty risk related to derivatives, this is standard disclosure language and does not indicate material complexity. The fund's risk level (rated 6) is primarily due to sector concentration rather than structural complexity.",
    "confidence": 95
}