{
    "fund_name": "iShares MSCI EM SRI UCITS ETF USD (Dist)",
    "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 EM SRI UCITS ETF is a physically replicated ETF that tracks the MSCI EM SRI Select Reduced Fossil Fuel Index. The fund uses physical replication to achieve its investment objective, which is a non-complex indicator under MiFID II. While the KIID mentions the potential use of financial derivative instruments (FDIs), it explicitly states that such use is expected to be limited and primarily for direct investment purposes, not for leverage or synthetic replication. The fund's risk profile is rated 6, but this is primarily due to the inherent risks of emerging market equities and ESG screening, not due to structural complexity. The fund does not exhibit any of the key complexity indicators such as leverage, inverse exposure, or significant derivative usage. The underlying assets are straightforward equity securities, and the fund's methodology is transparent and based on a well-known index. The use of securities lending is disclosed but is a common practice in ETFs and does not contribute to complexity. The fund is UCITS-compliant, which further supports its classification as non-complex.",
    "confidence": 95
}