{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Core FTSE 100 UCITS ETF is a physically replicated ETF that tracks the FTSE 100 Index, which consists of the 100 largest UK companies. The fund's investment policy clearly states it aims to invest in the equity securities that make up the index in similar proportions. While the KIID mentions the potential use of financial derivative instruments (FDIs) for direct investment purposes, the PRIIPs KID and factsheet confirm the fund uses physical replication. There is no mention of synthetic replication, swaps, leverage, or inverse strategies. The risk profile is rated 6 (medium risk), and the fund's holdings are transparent and liquid. The only derivative-related activity mentioned is securities lending, which is a common practice in ETFs and does not trigger complexity under MiFID II. The fund's structure is straightforward, and the risks are easily understandable for retail investors. The absence of complex features like capital protection, contingent bonds, or structured products further supports the non-complex classification.",
    "confidence": 95
}