{
    "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 Japan ESG Screened UCITS ETF is a physically replicated fund that directly holds the underlying securities of its benchmark index. While the KIID mentions the use of financial derivative instruments (FDIs) for optimization techniques, it explicitly states that such use is expected to be limited. The fund does not employ leverage, inverse strategies, or synthetic replication. The risk profile is clearly disclosed, and the fund is UCITS-compliant, which imposes strict regulatory safeguards. The ESG screening criteria, while adding a layer of complexity to the index construction, do not introduce additional financial complexity from an investment structure perspective. The fund's risk rating of 6 is primarily due to its equity exposure rather than structural complexity. The absence of significant counterparty risk, capital protection features, or complex payoff structures further supports the non-complex classification.",
    "confidence": 95
}