{
    "fund_name": "iShares MSCI World EUR Hedged UCITS ETF (Acc)",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "inverse": false,
    "derivatives": true,
    "swaps": true,
    "complex_factors": [
        "Currency hedging using FX forwards",
        "Optimised replication techniques",
        "Securities lending"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication as its primary method, with optimised techniques and FX forwards for currency hedging. While derivatives are used, they are for efficient portfolio management (hedging and securities lending) rather than for leverage or complex strategies. The underlying assets are straightforward equities from developed markets, and the risk profile is transparent. The fund is UCITS-compliant, which typically aligns with non-complex classification under MiFID II. The use of derivatives here is for hedging and efficient replication, not for speculative or complex strategies.",
    "confidence": 90
}