{
    "fund_name": "iShares Edge MSCI Europe Quality Factor EUR (Dist)",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Factor-focused index methodology",
        "Optimised replication techniques",
        "Potential for securities lending"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication with optimised techniques, which does not inherently make it complex. While it uses derivatives for direct investment purposes, this is not extensive or leveraged. The factor-focused index methodology introduces some complexity, but the overall structure remains transparent and suitable for retail investors. The use of derivatives is for efficient portfolio management rather than as a core strategy. The risk profile is clearly disclosed, and the fund is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 90
}