{
    "fund_name": "iShares US Equity Enhanced Active UCITS Hedged GBP Acc",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Use of financial derivative instruments (FDIs) for investment purposes and risk management",
        "Potential market leverage through FDIs",
        "Currency hedging using FX forward contracts",
        "Quantitative models for stock selection",
        "Potential exposure to counterparty risk from derivative instruments"
    ],
    "classification": "non-complex",
    "supporting_data": "The fund primarily uses physical replication with some derivative usage for risk management and hedging. While it mentions potential market leverage through derivatives, there is no indication of actual leverage or inverse exposure. The use of derivatives appears to be for efficient portfolio management rather than as an inherent element of the strategy. The fund's risk profile is rated 6, which is relatively high but not necessarily indicative of complexity. The main complexity factors are the use of quantitative models and potential counterparty risk from derivatives, but these do not appear to make the fund inherently complex under MiFID II.",
    "confidence": 85
}