{
    "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 USA ESG Enhanced UCITS ETF is a physically replicated ETF that aims to track the MSCI USA ESG Enhanced Focus CTB Index. The KIID and factsheet indicate that the fund primarily holds the underlying equity securities of the index. While the KIID mentions that the fund may use financial derivative instruments (FDIs) for direct investment purposes, it does not suggest extensive or complex derivative usage. The fund's risk profile is rated 6, but this is primarily due to the equity market risks rather than structural complexity. The fund does not employ leverage, inverse strategies, or synthetic replication. The ESG optimization process is transparent and does not introduce additional complexity beyond standard equity ETFs. The fund's counterparty risk is limited to standard securities lending and basic derivative usage for efficient portfolio management (EPM).",
    "confidence": 90
}