{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The asset is a UCITS ETF (iShares Electric Vehicles and Driving USD (Acc) Share Class) managed by BlackRock, tracking the STOXX Global Electric Vehicles and Driving Technology Index. It is passively managed and aims to invest primarily in equity securities that compose the index, using physical replication with optimization techniques. The ETF may engage in securities lending as a secondary feature, which is well-managed under UCITS rules and does not dominate the risk profile. There is no indication of synthetic replication, embedded derivatives, or significant leverage beyond UCITS limits. The ETF's structure and risks (market volatility, tracking error) are straightforward and transparent to retail investors with basic knowledge. The index tracked is transparent and equity-based, supporting non-complexity. According to MiFID II Article 25(4)(a)(iv), UCITS funds are automatically non-complex. The ETF does not embed derivatives integral to its strategy but may use derivatives only for efficient portfolio management, which does not trigger complexity. No complex features such as contingent convertible bonds, leverage, or opaque indices are present. Therefore, under MiFID II and ESMA guidelines, this UCITS ETF is classified as non-complex[1][2][3]."
}