{
    "name": "iShares Core MSCI Japan IMI UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Core MSCI Japan IMI UCITS ETF is classified as non-complex under MiFID II regulations. The ETF uses physical replication to track the MSCI Japan Investable Market Index (IMI), investing directly in the underlying securities of the index. While the KIID mentions the potential use of financial derivative instruments (FDIs) for direct investment purposes, it specifies that these are used to help achieve the investment objective, likely for efficient portfolio management (EPM) rather than as a core strategy. The ETF does not employ leverage, inverse strategies, or synthetic replication. The risk profile is rated 6, which is relatively high, but this is due to the nature of its equity investments rather than structural complexity. The ETF is UCITS-compliant, which imposes additional investor protection and transparency requirements. The absence of leverage, synthetic replication, or complex underlying assets supports the non-complex classification.",
    "confidence": 95
}