{
    "fund_name": "iShares MSCI AC Far East ex-Japan UCITS ETF",
    "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 AC Far East ex-Japan Index, investing directly in the underlying equity securities. While it mentions the potential use of financial derivative instruments (FDIs) for direct investment purposes, this appears to be limited to American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs), which are not inherently complex. The fund does not use synthetic replication, leverage, or inverse strategies. The risk profile is rated 6 out of 7, but this is primarily due to the nature of the underlying equities (emerging markets exposure) rather than the fund's structure. The PRIIPs KID confirms the fund uses physical replication and does not indicate any complex derivative strategies. The absence of swap agreements, unfunded swaps, or counterparty risk beyond standard market risk further supports the non-complex classification.",
    "confidence": 95
}