{
    "fund_name": "iShares MDAX 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 iShares MDAX UCITS ETF (DE) is a physically replicated ETF that tracks the MDAX index, which consists of 50 medium-sized German companies. The fund invests directly in equities and does not use derivatives for leverage or inverse exposure. The KIID and PRIIPs documents confirm physical replication and state that the fund does not use derivatives for investment purposes beyond efficient portfolio management. The risk profile is rated 6 (medium risk), and the fund is UCITS-compliant, indicating regulatory approval for retail investors. There are no references to swaps, unfunded swaps, or synthetic replication in the documents. The fund's objective is straightforward: to track the MDAX index, and it does not employ complex strategies like capital protection or structured products. The underlying assets are liquid equities, and the fund's risk disclosures are transparent and typical for an equity ETF. The absence of leverage, inverse strategies, or complex derivatives means the fund meets the criteria for a non-complex financial instrument under MiFID II.",
    "confidence": 95
}