{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None identified",
    "classification": "non-complex",
    "supporting_data": "The iShares STOXX Europe Equity Multifactor EUR (Dist) ETF is a UCITS-compliant, physically replicated ETF that tracks a transparent, well-documented equity index. It invests directly in the underlying securities of the index and does not use derivatives as a core part of its investment strategy. The KID and prospectus confirm that any use of financial derivative instruments (FDIs) is limited and not central to the fund's objectiveu2014derivatives may be used for efficient portfolio management (EPM) but are not integral to achieving the fund's return. There is no evidence of significant leverage, synthetic replication, embedded derivatives, or complex structured products such as CLOs. The fund's structure, risks, and objectives are straightforward and disclosed in plain language, supporting the view that a retail investor with basic knowledge can understand how the ETF works and what risks are involved. Securities lending is present but is a secondary activity, well within UCITS limits, and does not introduce material complexity or opacity. The ETF does not track a complex or opaque index, nor does it hold complex bonds or contingent convertible securities. All these factors align with the criteria for non-complex UCITS ETFs under MiFID II Article 25(4) and Delegated Regulation Article 57, as well as ESMA and CESR guidance[1]."
}