{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [
        "Derivative usage for direct investment purposes"
    ],
    "classification": "non-complex",
    "supporting_data": "The iShares EURO STOXX Small UCITS ETF uses physical replication with optimisation techniques, including selective use of financial derivative instruments (FDIs) for direct investment purposes. While derivatives are mentioned, they are not used for leverage, synthetic replication, or complex strategies. The fund primarily invests in liquid, small-cap Eurozone equities and follows a straightforward index-tracking objective. The risk profile (rated 6) is primarily due to the volatility of small-cap stocks rather than structural complexity. The KIID and factsheet do not indicate the use of swaps, leverage, or complex underlying assets. The fund is UCITS-compliant, which imposes additional investor protection and transparency requirements.",
    "confidence": 90
}