{
    "fund_name": "iShares S&P 500 Materials Sector UCITS ETF USD (Acc)",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Physical replication of S&P 500 Materials Index",
        "No leverage or inverse exposure",
        "No synthetic replication or swap usage",
        "Standard equity sector exposure"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the S&P 500 Materials Index, which consists of equity securities in the materials sector. There is no mention of synthetic replication, swaps, or derivatives beyond potential minimal use for efficient portfolio management (e.g., securities lending). The risk profile is straightforward, and the fund is UCITS-compliant, indicating it meets regulatory standards for retail investor suitability. The PRIIPs KID and fact sheet confirm the physical replication methodology and lack of complex structures.",
    "confidence": 95
}