{
    "fund_name": "iShares MSCI Europe SRI UCITS ETF USD (Acc)",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Complex Index Methodology",
        "ESG Screening Criteria",
        "Potential Counterparty Risk from Securities Lending"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI Europe SRI Select Reduced Fossil Fuel Index, which involves ESG screening and sector constraints but does not employ derivatives for investment purposes. The fund may use financial derivative instruments (FDIs) for efficient portfolio management, but there is no indication of synthetic replication, leverage, or inverse strategies. The risk profile is rated 6/7, reflecting equity market risks but not derivative-related complexity. The KIID and PRIIPs documents do not contain a comprehension warning, and the fund's structure is transparent with a straightforward investment objective. The primary complexity factors are the index's ESG methodology and potential counterparty risk from securities lending, but these do not meet MiFID II's criteria for a 'complex' financial instrument.",
    "confidence": 90
}