{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The iShares STOXX Europe 600 Utilities UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, well-documented equity index. It primarily invests in equities, with at least 95% of assets matching the index, and does not use leverage as a core strategy. Any use of derivatives is limited to efficient portfolio management (EPM) with minimal impact on risk-return, and there is no evidence of synthetic replication, embedded derivatives, or complex features such as swaps, contingent convertible bonds, or structured products. The ETFu2019s structure, risks, and objectives are straightforward and easily understood by retail investors with basic knowledge, consistent with the UCITS presumption of non-complexity under MiFID II[1]. No complex factors (e.g., synthetic replication, significant derivative use, leverage, or opaque features) are present that would override this presumption."
}