{
    "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 Materials Sector ESG UCITS ETF is a physically replicated fund that primarily holds equity securities to track its benchmark index. While the KIID mentions the potential use of financial derivative instruments (FDIs) for direct investment purposes, there is no indication of extensive or complex derivative usage. The fund's primary strategy is physical replication of the MSCI World Materials ESG Reduced Carbon Select 20 35 Capped Index, which focuses on equity securities within the materials sector. The risk profile is rated 6, but this is primarily due to sector concentration risks rather than complexity in the investment strategy. The fund does not employ leverage, inverse strategies, or synthetic replication. The use of derivatives, if any, appears to be for efficient portfolio management rather than as a core part of the investment strategy. The fund is UCITS-compliant, which generally implies a higher level of investor protection and transparency.",
    "confidence": 90
}