{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares STOXX Europe Equity Multifactor UCITS ETF is a physically replicated fund that tracks a multi-factor index. While the KIID mentions the potential use of financial derivative instruments (FDIs) for direct investment purposes, this appears to be for efficient portfolio management (EPM) rather than as a core strategy. The fund does not exhibit leverage, inverse exposure, or synthetic replication. The underlying index, while complex in its multi-factor construction, is based on liquid European equities and does not involve illiquid or hard-to-value assets. The risk rating of 6 is primarily due to equity market risks rather than structural complexity. The fund is UCITS-compliant, which imposes additional investor protection requirements.",
    "confidence": 90
}