{
    "fund_name": "iShares MSCI Japan UCITS ETF USD (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 MSCI Japan Index, investing directly in the underlying equity securities. There is no mention of synthetic replication, swaps, or leverage in the KIID or PRIIPs documents. The fund's investment strategy is straightforward, focusing on large and mid-cap Japanese equities. The risk profile is rated as medium, and the fund is UCITS-compliant, which typically indicates a non-complex structure. The use of securities lending is disclosed but does not appear to involve derivatives or complex strategies. The fund's transparency, liquidity, and straightforward replication method align with non-complex MiFID II classification.",
    "confidence": 95
}