{
    "fund_name": "iShares MSCI USA UCITS ETF USD (Acc)",
    "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 USA Index, investing directly in the underlying equity securities. 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 6 (medium risk), but this is typical for equity ETFs and does not indicate complexity. The fund is UCITS-compliant, which generally aligns with non-complex classification under MiFID II. The PRIIPs KID and factsheet confirm the physical replication method and lack of complex structures. The only derivative-related mention is for potential securities lending, which is common and does not trigger complexity under MiFID II.",
    "confidence": 95
}