{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "supporting_data": "The iShares MSCI Poland UCITS ETF is a UCITS-compliant, physically replicating ETF that invests directly in the equity securities of the MSCI Poland Index. It does not use derivatives as a core part of its investment strategy, nor does it employ leverage, swaps, or inverse strategies. The fund may use financial derivative instruments (FDIs) for efficient portfolio management (EPM), but this is not central to its objective and is disclosed as a secondary risk. The ETFu2019s structure, risks, and objectives are transparent and straightforward, making it easily understandable for retail investors with basic knowledge. There are no embedded derivatives, complex indices, or contingent convertible bonds. The ETFu2019s risk profile is driven by market volatility and country concentration, not by structural complexity. All these factors support a non-complex classification under MiFID II, in line with the UCITS presumption and Article 57 criteria[1].",
    "classification": "non-complex"
}