{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares AI Infrastructure UCITS ETF is a physically replicated equity ETF tracking the STOXX Global AI Infrastructure Index. It holds the underlying securities directly and does not employ leverage, inverse strategies, or synthetic replication. While the KIID mentions the potential use of derivatives for efficient portfolio management, this is a standard practice for many UCITS ETFs and does not inherently make the product complex under MiFID II. The fund's risk profile (rated 6) is primarily driven by its sector concentration in AI-related equities rather than structural complexity. The ETF is UCITS-compliant, provides daily liquidity, and has transparent holdings, all of which support a non-complex classification.",
    "confidence": 95
}