{
    "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 Paris-Aligned Climate 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 that would materially alter the risk profile or require specialist knowledge. The fund's primary strategy is straightforward index tracking with an ESG focus, and the derivatives are likely used for efficient portfolio management rather than as a core strategy. The risk profile is transparent, with a risk rating of 6 primarily due to equity market exposure rather than structural complexity. The fund is UCITS-compliant, which imposes additional investor protection and transparency requirements. The absence of leverage, inverse strategies, or complex underlying assets further supports the non-complex classification.",
    "confidence": 95
}