{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares S&P 500 Consumer Staples Sector UCITS ETF is a physically replicated fund that aims to track the performance of the S&P 500 Capped 35/20 Consumer Staples 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 standard efficient portfolio management (EPM). The fund's KIID and factsheet confirm it uses physical replication and does not rely on synthetic methods or swaps. While the fund may use financial derivative instruments (FDIs) for direct investment purposes, this appears to be within the bounds of EPM and not for complex strategies. The risk profile is rated as 6, but this is due to sector concentration rather than structural complexity. The fund is UCITS-compliant, which generally aligns with non-complex classifications under MiFID II. The absence of leverage, inverse strategies, or complex underlying assets further supports the non-complex classification.",
    "confidence": 95
}