{
    "complex": false,
    "classification": "non-complex",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "supporting_data": "The iShares MSCI EM SRI UCITS ETF is a physically replicated ETF that tracks the MSCI EM SRI Select Reduced Fossil Fuel Index. The fund uses direct investment in underlying securities and does not employ leverage, inverse strategies, or synthetic replication. While the KIID mentions the potential use of financial derivative instruments (FDIs), it explicitly states that such use is expected to be limited and primarily for efficient portfolio management rather than as a core strategy. The fund's risk profile (rated 6) is driven by emerging market exposure and ESG screening rather than structural complexity. The absence of leverage, inverse exposure, or significant derivative usage, combined with the physical replication method and UCITS compliance, supports a non-complex classification. The fund's transparency, liquidity, and straightforward investment objective further reinforce this determination.",
    "confidence": 90
}