{
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The iShares S&P 500 Paris-Aligned Climate UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, well-documented equity index. It aims to invest directly in the underlying securities of the index, with no indication of synthetic replication, embedded derivatives, or significant use of derivatives for purposes other than efficient portfolio management (EPM). The ETF does not employ leverage, swaps, or inverse strategies, and there is no evidence of complex features such as contingent convertible bonds, structured notes, or opaque indices. The structure, risks, and investment objective are straightforward and easily understood by retail investors with basic knowledge. The UCITS presumption of non-complexity is not overturned by any features in the KID, and the ETF meets all MiFID II and Article 57 criteria for non-complex instruments[1]. The only noted use of derivatives is for EPM, which does not introduce material complexity or counterparty risk that would require a complex classification under MiFID II. Securities lending is disclosed but is a secondary, well-managed feature within UCITS rules and does not dominate the risk profile. The ETFu2019s risk rating reflects market volatility, not structural complexity. All information required for an informed decision is publicly available and presented in a clear, accessible manner."
}