{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Nikkei 225 UCITS ETF is a physically replicated ETF that directly holds the underlying securities of the Nikkei 225 Index. While the KIID mentions the potential use of financial derivative instruments (FDIs) for direct investment purposes, there is no indication that these are used for leverage, synthetic replication, or complex strategies. The primary investment method is physical replication, and the derivatives are likely used for efficient portfolio management (EPM) rather than as a core part of the investment strategy. The ETF has a straightforward objective of tracking a well-known, liquid equity index, and the risk profile is clearly disclosed. The absence of leverage, inverse exposure, or complex underlying assets further supports the non-complex classification.",
    "confidence": 95
}