{
    "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 World Value Factor ESG UCITS ETF is a physically replicated fund that primarily holds equity securities to track its benchmark index. While the KIID mentions the potential use of financial derivative instruments (FDIs), it explicitly states that such use is expected to be limited for this share class. The fund does not employ leverage, inverse strategies, or synthetic replication. The underlying assets are liquid equities, and the fund follows a straightforward index-tracking strategy with ESG considerations. The risk profile is clearly disclosed, and the fund is UCITS-compliant, which imposes additional investor protection requirements. The absence of significant derivative exposure, leverage, or complex underlying assets supports the non-complex classification.",
    "confidence": 95
}