{
    "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 Europe Health Care Sector UCITS ETF is a physically replicated fund that directly holds the underlying equities of its benchmark index. While the KIID mentions the potential use of financial derivative instruments (FDIs) for direct investment purposes, there is no indication that these are used for leverage, synthetic replication, or complex strategies. The fund's primary method is physical replication of the MSCI Europe Health Care 20/35 Capped Index, which is a straightforward, rules-based equity index. The risk profile (rated 6) is primarily due to sector concentration rather than structural complexity. The fund does not employ leverage, inverse strategies, or capital protection mechanisms. The use of derivatives, if any, appears to be for efficient portfolio management rather than as a core strategy component. The fund is UCITS-compliant, which imposes additional investor protection requirements, and there are no indications of complex underlying assets or structures.",
    "confidence": 95
}