{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI World Quality Dividend ESG USD (Acc) ETF is classified as non-complex under MiFID II based on the following analysis: 1) Physical replication method (explicitly stated in the PRIIPs KID and fact sheet), 2) No leverage or inverse exposure, 3) No synthetic replication or swap agreements mentioned, 4) Straightforward equity investment strategy tracking a transparent MSCI index, 5) Risk profile rated 6 (moderate) with no complex risk factors like counterparty risk from derivatives, 6) No capital protection or structured features, 7) Derivatives are only mentioned for potential limited use in direct investment purposes (not core strategy), 8) No comprehension warning in PRIIPs KID. The fact sheet confirms physical replication with 197 holdings, and the KIID states the fund aims to invest in equity securities making up the index. While the index has ESG screening, this does not introduce complexity. The only derivative mention is for potential limited use, which does not trigger complexity under MiFID II. The fund's structure is transparent with daily liquidity and no material counterparty risks.",
    "confidence": 95
}