{
    "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 Korea UCITS ETF USD (Acc) is a physically replicated ETF that aims to track the MSCI Korea 20/35 Index. The KIID and factsheet indicate that the fund primarily invests in the equity securities that make up the index, holding them in similar proportions. While the fund may use financial derivative instruments (FDIs) for direct investment purposes, there is no indication of extensive or complex derivative usage, leverage, or synthetic replication. The fund's risk profile is primarily driven by its exposure to Korean equities and associated market risks, rather than structural complexity. The fund is UCITS-compliant, which generally implies a higher standard of investor protection and transparency. The absence of leverage, inverse strategies, or significant derivative exposure supports the classification as non-complex.",
    "confidence": 95
}