{
    "fund_name": "iShares MSCI Europe Financials Sector",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI Europe Financials 20/35 Capped Index, investing directly in equity securities of financial companies. While it mentions potential use of financial derivative instruments (FDIs) for direct investment purposes, the PRIIPs KID explicitly states the methodology is 'Replicated' (physical) and the fact sheet confirms no swap usage. The risk profile is medium (risk level 7), but this is typical for equity sector ETFs. There are no leverage, inverse, or synthetic replication features. The underlying index is a standard market-cap-weighted equity index with no complex structures. The ETF is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 95
}