{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares STOXX Europe 600 Health Care UCITS ETF (DE) is a physically replicated ETF that tracks the STOXX Europe 600 Health Care Index. The KIID and PRIIPs documents confirm that the fund uses physical replication (direct investment in underlying securities) and does not employ leverage, inverse strategies, or synthetic replication methods. The fund's investment objective is straightforward: to replicate the performance of the index, which consists of large-cap European healthcare companies. The risk profile is rated as medium (risk level 6 out of 7), but this is typical for equity ETFs and does not indicate complexity. The fund does not mention any use of derivatives beyond minimal efficient portfolio management (EPM), which is standard for ETFs. The PRIIPs document does not include a comprehension warning, further supporting the non-complex classification. The fund's holdings are transparent, and the underlying index is a well-known, liquid benchmark. The only potential complexity factor would be the concentration risk in the healthcare sector, but this does not meet MiFID II's criteria for complexity. The fund is UCITS-compliant, which inherently limits the use of complex strategies.",
    "confidence": 95
}