{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI Europe SRI UCITS ETF described is a UCITS-compliant Exchange Traded Fund that aims to replicate the MSCI Europe SRI Select Reduced Fossil Fuel Index by physically holding the underlying equity securities in similar proportions. The fund uses derivatives only for currency hedging purposes (FX forward contracts) and for efficient portfolio management, not as an integral part of its investment objective or replication strategy. The derivatives usage is limited, with no indication of embedded derivatives or structured products. Securities lending is employed but managed within UCITS rules and does not dominate the risk profile. There is no significant leverage beyond UCITS limits. The underlying index is transparent, free-float adjusted, and based on well-understood equity securities with ESG criteria, supporting ease of understanding for retail investors. The risk profile reflects market volatility typical of equity investments but does not imply structural complexity. According to MiFID II Article 25(4)(a)(iv) and Article 57 of the Commission Delegated Regulation, UCITS ETFs that physically replicate transparent indices and use derivatives only for hedging or efficient portfolio management with minimal risk impact are classified as non-complex. The fund does not embed derivatives or complex features such as synthetic replication, leverage, or capital protection structures that would trigger a complex classification. Therefore, under MiFID II and ESMA guidelines, this UCITS ETF is classified as non-complex."
}