{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI USA SRI UCITS ETF (Acc) is a physically replicated ETF that tracks the MSCI USA SRI Select Reduced Fossil Fuel Index. The KIID and PRIIPs documents confirm that the fund uses physical replication ('The Fund intends to replicate the Index by holding the equity securities which make up the Index, in similar proportions to it'). There is no mention of synthetic replication, swaps, or leverage. The fund's investment strategy is straightforward: it invests in equity securities of US companies with higher ESG ratings, following a best-in-class approach. The risk profile is rated 6 (out of 7), which is typical for equity ETFs. The fund's use of derivatives is limited to FDIs (financial derivative instruments) for efficient portfolio management, but these are not used for leverage or complex strategies. The PRIIPs KID does not include a comprehension warning, further indicating that the product is not considered complex under MiFID II. The fact sheet confirms the physical replication method and lists the top holdings, which are standard large-cap US equities. The fund's structure is transparent, with no capital protection mechanisms or structured features. The only potential complexity factor is the ESG screening methodology, but this does not make the fund complex under MiFID II. The fund is UCITS-compliant, which typically aligns with non-complex classification.",
    "confidence": 95
}