{
    "fund_name": "iShares S&P 500 Information Technology USD (Acc)",
    "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 S&P 500 Capped 35/20 Information Technology Index, investing directly in equity securities that make up the index. While it mentions the potential use of financial derivative instruments (FDIs) for direct investment purposes, the PRIIPs KID explicitly states the product structure is 'Physical'. The fund does not employ leverage, inverse strategies, or synthetic replication. The risk profile is rated 7, which is relatively high but not indicative of complexity under MiFID II. The underlying index tracks large-cap US technology stocks, which are liquid and transparent. The fund's primary risks are market risk and sector concentration, which are typical for equity ETFs and easily understandable by retail investors. The absence of swap agreements, unfunded/funded swap structures, or counterparty risk warnings in the KIID further supports the non-complex classification. The fund's straightforward structure, physical replication, and lack of complex features align with MiFID II's criteria for non-complex financial instruments.",
    "confidence": 95
}