{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI Canada UCITS ETF is a physically replicated equity ETF that tracks the MSCI Canada Index. It primarily holds Canadian equities directly and does not employ leverage, inverse strategies, or synthetic replication. While the KIID mentions the potential use of financial derivative instruments (FDIs) for direct investment purposes, this appears to be for efficient portfolio management rather than as a core strategy. The fund's risk profile is transparent, with a clear focus on Canadian large- and mid-cap equities. The absence of complex features such as leverage, inverse exposure, or synthetic replication supports the non-complex classification. The fund's risk indicator of 6 is typical for equity ETFs and does not inherently indicate complexity under MiFID II.",
    "confidence": 95
}