{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares S&P 500 Paris-Aligned Climate ETF is a UCITS-compliant, physically replicated ETF that tracks the S&P 500 Net Zero 2050 Paris-Aligned Sustainability Screened Index. The KIID and PRIIPs documents confirm that the fund primarily invests in the underlying equity securities of the index, with no mention of synthetic replication, leverage, or inverse strategies. While the fund may use financial derivative instruments (FDIs) for direct investment purposes, this appears to be for efficient portfolio management rather than as a core strategy. The risk profile is rated 6 (medium risk), and the fund does not exhibit any of the complexity indicators such as capital protection mechanisms, structured products, or significant counterparty risk beyond standard market exposure. The underlying index is a screened version of the S&P 500, which is a well-known and transparent benchmark. The fund's low ongoing charges (0.07%) and straightforward investment strategy further support its classification as non-complex.",
    "confidence": 95
}