{
    "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 USA ESG Enhanced UCITS ETF is a physically replicated ETF that aims to track the MSCI USA ESG Enhanced Focus CTB Index. The fund primarily holds equity securities and uses financial derivative instruments (FDIs) only for currency hedging and efficient portfolio management, not for leverage or synthetic replication. The KIID explicitly states that the fund intends to replicate the index by holding the underlying securities in similar proportions. While derivatives are mentioned for hedging purposes, they are not used in a way that introduces significant additional risk or complexity. The fund's risk profile is straightforward, with a risk rating of 6 primarily due to its equity exposure rather than structural complexity. The fund is UCITS-compliant, which imposes additional investor protection and transparency requirements. The absence of leverage, inverse strategies, or synthetic replication further supports the non-complex classification.",
    "confidence": 95
}