{
    "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 S&P 500 UCITS ETF uses physical replication to track the S&P 500 Index, holding the underlying equity securities directly. While the KIID mentions the potential use of financial derivative instruments (FDIs) for direct investment purposes, it does not indicate extensive or complex derivative strategies. The fund's primary method is physical replication, and any derivative use appears to be for efficient portfolio management rather than leverage or synthetic exposure. The risk profile is straightforward, with a clear focus on large-cap U.S. equities. The fund is UCITS-compliant, which generally implies a higher level of investor protection and transparency. The absence of leverage, inverse strategies, or complex underlying assets further supports the non-complex classification.",
    "confidence": 95
}