{
    "name": "iShares MSCI USA Mid-Cap Equal Weight",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [
        "Derivatives for direct investment purposes"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication as its primary method, with derivatives employed for direct investment purposes rather than for leverage or synthetic replication. The risk profile is rated 6, but this is primarily due to equity market risks rather than structural complexity. The ETF tracks a straightforward equal-weighted index of mid-cap U.S. equities, and while it mentions the use of financial derivative instruments (FDIs), these are used for direct investment purposes and not for leverage or synthetic exposure. The absence of swaps, inverse strategies, or capital protection mechanisms further supports a non-complex classification. The ETF is UCITS-compliant, which generally aligns with non-complex instruments under MiFID II.",
    "confidence": 90
}