{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI Europe SRI UCITS ETF is a physically replicated ETF that tracks the MSCI Europe SRI Select Reduced Fossil Fuel Index. The KIID and factsheet indicate that the fund primarily holds equity securities directly, with derivatives used only for currency hedging (FX forward contracts) and not for leverage or synthetic replication. The fund does not employ leverage, inverse strategies, or complex underlying assets. The risk profile is rated 6, but this is due to the nature of equity investments rather than structural complexity. The use of derivatives is limited to efficient portfolio management (EPM) for hedging purposes, which does not trigger complexity under MiFID II. The fund is UCITS-compliant, providing additional investor protections and transparency. The index itself, while ESG-focused, is not inherently complex as it follows a clear, rules-based methodology.",
    "confidence": 95
}