{
    "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 World Industrials Sector ESG UCITS ETF uses physical replication to track its benchmark index, holding the underlying equity securities directly. While the KIID mentions the potential use of financial derivative instruments (FDIs) for direct investment purposes, it does not indicate extensive or complex derivative strategies. The fund's primary method is physical replication, and any derivative use appears to be for efficient portfolio management rather than as a core strategy. The risk profile (rated 6) is primarily due to sector concentration and equity market risks rather than structural complexity. The fund is UCITS-compliant, which imposes additional investor protection and transparency requirements. The absence of leverage, inverse strategies, or synthetic replication further supports the non-complex classification.",
    "confidence": 90
}