{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Global Infrastructure UCITS ETF is a physically replicated fund that aims to track the FTSE Global Core Infrastructure Index by holding the underlying equity securities. While the KIID mentions the potential use of financial derivative instruments (FDIs) for direct investment purposes, there is no indication of leverage, inverse strategies, or synthetic replication. The fund's primary method is physical replication, and any derivative use appears to be for efficient portfolio management rather than as a core strategy. The risk profile is rated 6 out of 7, but this is due to sector concentration risks rather than structural complexity. The fund does not exhibit characteristics that would classify it as complex under MiFID II, such as leverage, inverse exposure, or significant counterparty risk from derivatives.",
    "confidence": 95
}