{
    "fund_name": "iShares Core MSCI World UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Currency hedging using FX forward contracts",
        "Potential counterparty risk from derivatives usage",
        "Optimised replication techniques"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF primarily uses physical replication with optimised techniques and employs derivatives only for currency hedging and efficient portfolio management. While there is some derivative usage (FX forwards), it is not for leverage or complex strategies. The risk profile is straightforward (equity risk), and the fund tracks a well-known, transparent index. The PRIIPs KID does not contain a comprehension warning, and the fact sheet confirms physical replication as the primary method. The derivative usage is for hedging and does not materially alter the risk profile, making it suitable for retail investors under MiFID II.",
    "confidence": 90
}