{
    "fund_name": "iShares Electric Vehicles and Driving Technology UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Optimised replication techniques",
        "Potential use of financial derivative instruments (FDIs) for indirect exposure",
        "Counterparty risk from securities lending",
        "Complex index methodology (ESG screening, revenue-based inclusion criteria)"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF primarily uses physical replication and does not employ leverage or inverse strategies. While it mentions potential use of financial derivative instruments (FDIs) for indirect exposure, this appears to be for efficient portfolio management rather than as a core investment strategy. The index methodology is complex (ESG screening, revenue-based inclusion), but the fund itself does not exhibit characteristics that would typically trigger a 'complex' classification under MiFID II. The use of optimised replication techniques and securities lending introduces some complexity, but these are common practices in ETFs and do not necessarily make the product unsuitable for retail investors. The risk profile is rated 7/7, which is relatively high, but this aligns with the equity-focused nature of the fund and does not indicate complexity in structure.",
    "confidence": 85
}