{
    "fund_name": "iShares STOXX Europe 600 Chemicals UCITS ETF (DE)",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the STOXX Europe 600 Chemicals index, with at least 95% of assets matching the index weighting. There is no mention of synthetic replication, swaps, or leverage in the KIID or PRIIPs documents. The fund's investment objective is straightforward, focusing on equities in the European chemicals sector. The risk profile is rated as medium (risk level 6), but this is typical for equity ETFs and does not indicate complexity. The fund's use of derivatives is limited to 'efficient portfolio management purposes,' which does not trigger complexity under MiFID II. The underlying index is a standard, transparent equity index, and the fund's holdings are liquid, large-cap stocks. There are no capital protection mechanisms, structured products, or other complexity flags present.",
    "confidence": 95
}