{
    "fund_name": "iShares Core MSCI Japan IMI UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Use of financial derivative instruments (FDIs) for direct investment purposes",
        "Potential counterparty risk from derivative usage",
        "Optimised replication techniques that may include derivative instruments"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF primarily uses physical replication with optimised techniques that may include derivative instruments for direct investment purposes. While derivatives are mentioned, there is no indication of synthetic replication, leverage, or inverse strategies. The risk profile is rated 6 (moderate), and the fund tracks a broad equity index with 986 holdings. The use of derivatives appears to be for efficient portfolio management rather than creating complex exposure. The PRIIPs KID confirms a physical product structure, and the KIID mentions derivatives only in the context of direct investment purposes. No leverage, inverse exposure, or capital protection features are present. The fund's complexity factors are minimal, and the overall structure remains transparent and suitable for retail investors.",
    "confidence": 90
}