{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Asia Pacific Dividend UCITS ETF is a physically replicated ETF that aims to track the Dow Jones Asia/Pacific Select Dividend 50 Index. The fund primarily invests in equity securities that make up the index, with no indication of leverage, inverse strategies, or significant derivative usage beyond potential efficient portfolio management (EPM). The KIID and factsheet confirm that the fund uses physical replication and does not employ synthetic replication or swaps. While the fund may use financial derivative instruments (FDIs) for direct investment purposes, there is no evidence of complex derivative strategies or leverage. The risk profile is rated 6, but this is primarily due to the equity market risks rather than structural complexity. The fund's holdings are transparent and consist of liquid, listed securities. The absence of capital protection mechanisms, structured features, or complex underlying assets further supports the non-complex classification.",
    "confidence": 95
}