{
    "fund_name": "iShares MSCI Europe ESG Screened UCITS EUR (Acc)",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication with optimisation techniques, including limited use of financial derivative instruments (FDIs) for efficient portfolio management rather than as a core strategy. The primary asset class is equities, and the fund follows a straightforward ESG-screened index. While derivatives are mentioned, their use is expected to be limited and for optimisation purposes, not for leverage or complex strategies. The risk profile is moderate (rated 6), but this is typical for equity ETFs and does not indicate complexity under MiFID II. The fund is UCITS-compliant, which generally aligns with non-complex classifications. The KIID does not contain warnings about complexity or suitability for retail investors, and the fund's structure is transparent and liquid.",
    "confidence": 90,
    "counter_argument": "Some might argue that the use of derivatives (even limited) could introduce complexity. However, the derivatives are used for optimisation and not as a primary strategy, and the fund's overall structure remains straightforward and transparent. The UCITS compliance and physical replication method further support the non-complex classification.",
    "risk_level": "moderate"
}