{
    "fund_name": "iShares MSCI Japan SRI UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "ESG criteria complexity",
        "SRI index methodology"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI Japan SRI Select Reduced Fossil Fuel Index, which is a straightforward equity index with ESG screening criteria. While the index methodology is complex (involving multiple exclusionary and ratings-based criteria), the ETF itself does not use derivatives, leverage, or synthetic replication. The fund's risk profile is rated 6/7, but this is primarily due to equity market risk rather than structural complexity. The use of derivatives is limited to potential short-term secured lending for cost offsetting, which is not a complexity trigger under MiFID II. The PRIIPs KID does not include a comprehension warning, and the fact sheet confirms physical replication. The ETF is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 90
}