{
    "fund_name": "iShares S&P 500 Industrials Sector 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 S&P 500 Capped 35/20 Industrials Index, which is a straightforward equity index. The KIID and PRIIPs documents confirm the fund invests directly in equity securities that make up the index, with no mention of synthetic replication, swaps, or leverage. The fund's risk profile is rated 6 (medium risk), and the primary risks are typical for equity investments (market risk, sector concentration). The use of derivatives is limited to potential short-term secured lending for additional income, which does not materially alter the fund's risk profile. The fund is UCITS-compliant, further supporting its non-complex classification. The PRIIPs KID does not include a comprehension warning, and the factsheet confirms the fund's physical replication methodology.",
    "confidence": 95
}