{
    "fund_name": "iShares MSCI Poland 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 Poland 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, there is no indication of synthetic replication, leverage, or inverse strategies. The risk profile is rated 7 (out of 7), but this appears to reflect the inherent risks of investing in Polish equities rather than structural complexity. The fund does not exhibit any of the complexity indicators under MiFID II, such as synthetic replication, leverage, or complex underlying assets. The use of derivatives, if any, appears to be for efficient portfolio management rather than as an inherent element of the strategy. The fund is UCITS-compliant, which typically aligns with non-complex classification under MiFID II.",
    "confidence": 95
}