{
    "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 Real Estate UCITS ETF (DE) is a physically replicated ETF that aims to track the STOXX Europe 600 Real Estate Index. It primarily invests in equities with a duplication percentage of at least 95% of the Fund's assets, indicating a straightforward replication strategy. The KIID and factsheet confirm that the Fund does not use leverage or synthetic replication methods such as swaps or derivatives for its primary investment strategy. While the Fund may use financial derivative instruments (FDIs) for efficient portfolio management purposes, this is a common practice for UCITS ETFs and does not inherently make the product complex under MiFID II. The risk profile is rated six, which is relatively high, but this is due to the sector concentration risk rather than structural complexity. The Fund's risk disclosures are clear and primarily relate to standard equity and sector-specific risks. The absence of leverage, inverse strategies, or capital protection mechanisms further supports the non-complex classification.",
    "confidence": 95
}