{
    "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 is a physically replicated fund that directly holds the underlying securities of the S&P 500 Index. While it mentions the use of financial derivative instruments (FDIs) for currency hedging and potential securities lending, these are standard practices for efficient portfolio management (EPM) and do not introduce material complexity. The fund does not employ leverage, inverse strategies, or synthetic replication. The risk profile is straightforward, with a clear objective of tracking a well-known, liquid index of large-cap U.S. equities. The KIID and factsheet confirm physical replication, a low TER (0.10%), and no performance fees or complex structures. The counterparty risk is minimal and typical for UCITS-compliant funds. The fund's transparency, liquidity, and simplicity align with non-complex classification under MiFID II.",
    "confidence": 95
}