{
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares STOXX Europe 600 Retail UCITS ETF is a physically replicated ETF that tracks the STOXX Europe 600 Retail index. It does not use derivatives for leverage or inverse exposure, and its replication method is physical (as confirmed in the fact sheet). The fund's investment objective is straightforward, focusing on equities in the European retail sector. The KIID and PRIIPs documents do not mention any complex structures, capital protection mechanisms, or significant counterparty risks beyond standard market risks. The fund is UCITS-compliant, which typically aligns with non-complex classification under MiFID II. The risk profile is rated as medium (6/7), but this is consistent with equity investments and does not indicate complexity. The fund's holdings are transparent, and the underlying index is a standard market-cap-weighted equity index. There are no indications of structured products, contingent convertible bonds, or other complex instruments in the portfolio.",
    "confidence": 95
}