{
    "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 MSCI USA Screened UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, well-documented equity index (MSCI USA Screened Index). It aims to hold the underlying securities in similar proportions to the index, with no evidence of synthetic replication or significant use of derivatives for index replication. The KID confirms the ETF may use financial derivative instruments for efficient portfolio management (EPM) only, not as a core part of the investment strategy. Securities lending is disclosed as a secondary, well-managed activity within UCITS limits, not materially increasing risk or opacity. The ETF does not use leverage beyond temporary borrowing limits, does not embed complex options or swaps, and does not track a complex or opaque index. The structure, risks, and objectives are straightforward and easily understood by retail investors with basic knowledge. All these factors align with the MiFID II presumption that UCITS ETFs are non-complex unless specific complex features are present, which are not evident here[1]. ESMA guidance confirms that only structured UCITS or those with complex features (e.g., synthetic replication, embedded derivatives, or algorithm-based payouts) would be considered complexu2014this ETF does not exhibit those characteristics[2]. Therefore, it meets all criteria for non-complex classification under MiFID II Article 25(4) and Article 57."
}