{
    "fund_name": "iShares Edge MSCI World Momentum",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Complex Index (Momentum Factor)",
        "Optimisation Techniques"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication and does not employ leverage, inverse strategies, or swaps. While it uses optimisation techniques and tracks a momentum factor index (which could be considered complex), the overall structure remains transparent and suitable for retail investors. The fund's risk profile is clearly disclosed, and it operates within UCITS constraints, making it non-complex under MiFID II. The use of derivatives is limited to efficient portfolio management (e.g., securities lending), which does not trigger complexity. The index methodology, while factor-based, is well-documented and does not introduce significant counterparty or liquidity risks.",
    "confidence": 90
}