{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Developed Markets Property Yield ETF is a UCITS-compliant fund that primarily uses physical replication to track the FTSE EPRA/Nareit Developed Dividend+ Index. While the KIID mentions the use of financial derivative instruments (FDIs) for efficient portfolio management (EPM) and currency hedging, these are standard practices for reducing risk and costs rather than for leveraged or speculative purposes. The fund does not employ synthetic replication, leverage, or inverse strategies. The underlying assets are straightforward equity securities of listed real estate companies and REITs, which are transparent and liquid. The risk profile, while rated at level 6, is primarily due to sector concentration rather than structural complexity. The fund's use of derivatives is limited to EPM and hedging, which does not introduce material complexity under MiFID II guidelines.",
    "confidence": 90
}