{
    "fund_name": "iShares MSCI World ESG Enhanced UCITS ETF USD (Dist)",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Complex ESG index methodology",
        "Optimisation techniques may include derivatives"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication as its primary method (as confirmed in the fact sheet) and does not exhibit leverage or inverse exposure. While the KIID mentions potential derivative usage for 'direct investment purposes' and optimisation, the fact sheet explicitly states 'Product Structure: Physical'. The MSCI World ESG Enhanced Focus CTB Index is complex in its methodology but the ETF itself tracks this index through physical holdings. The risk profile (6/7) is relatively high but this reflects equity market risk rather than structural complexity. The absence of swap references, leverage, or inverse exposure in both documents supports the non-complex classification. The ETF's transparency and liquidity further align with non-complex status.",
    "confidence": 90
}