{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Core MSCI World UCITS ETF uses physical replication with optimisation techniques, including selective security purchases and potential derivative use for efficient portfolio management (EPM) such as currency hedging. The KIID explicitly states that derivatives are used for direct investment purposes and currency hedging, not for leverage or complex strategies. The fund tracks a well-established, transparent index (MSCI World) and holds liquid equities. While derivatives are mentioned, their use is limited to hedging and EPM, which does not trigger complexity under MiFID II. The risk profile (rated 6) is primarily driven by equity market exposure rather than structural complexity. The fund is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 95
}