{
    "fund_name": "iShares MSCI ACWI UCITS ETF (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 ACWI Index, with no leverage, inverse exposure, or synthetic replication via swaps. While it mentions potential use of derivatives for direct investment purposes, this appears to be for efficient portfolio management rather than core strategy. The risk profile is rated 6/7, but this reflects equity market risk rather than structural complexity. The fund's transparency, liquidity, and straightforward equity exposure align with typical non-complex ETF characteristics under MiFID II.",
    "confidence": 95
}