{
    "fund_name": "iShares FTSE 250 UCITS ETF GBP (Dist)",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the FTSE 250 Index, which consists of 250 mid-cap UK companies. While the KIID mentions the possibility of using financial derivative instruments (FDIs) for direct investment purposes, the PRIIPs KID and factsheet confirm the fund uses a 'physical' methodology. There is no indication of synthetic replication, leverage, inverse strategies, or complex structured products. The risk profile is rated as medium (risk level 6), which is typical for equity ETFs. The fund's investment strategy is straightforward, focusing on direct investment in the underlying securities of the FTSE 250 Index. The use of derivatives, if any, appears to be minimal and likely for efficient portfolio management rather than as a core strategy. The fund is UCITS-compliant, which generally aligns with non-complex classification under MiFID II.",
    "confidence": 95
}