{
    "fund_name": "iShares MSCI World SRI UCITS ETF",
    "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 SRI UCITS ETF is a physically replicated ETF that tracks the MSCI World SRI Select Reduced Fossil Fuel Index. It invests directly in equity securities that make up the index, with minimal use of derivatives. The KIID and factsheet indicate that the fund uses physical replication and does not employ leverage, inverse strategies, or complex financial instruments. While the fund may use Financial Derivative Instruments (FDIs) for efficient portfolio management, this is a common practice for tracking error minimization and does not introduce complexity under MiFID II. The fund's risk profile is transparent, and its investment strategy is straightforward, focusing on ESG-screened equities. The absence of synthetic replication, leverage, or complex underlying assets supports the non-complex classification.",
    "confidence": 95,
    "risk_level": "The fund is rated as a 6 on the risk scale, which is relatively high due to its equity exposure, but this does not indicate complexity under MiFID II. The risks are typical of equity investments and are well-documented in the KIID."
}