{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None identified",
    "supporting_data": "The iShares MSCI World ESG Enhanced UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, ESG-optimized equity index. It primarily invests in the underlying securities of the index, with no evidence of synthetic replication, significant derivative use, leverage, or embedded complex structures such as swaps or contingent convertible bonds. The fund may use derivatives for efficient portfolio management (EPM), but such use is limited and not central to the investment strategy. The index methodology is clear and publicly available, and the fundu2019s structure and risks (market volatility, tracking error) are straightforward for retail investors to understand. There is no indication of securities lending dominating the risk profile, significant leverage beyond UCITS limits, or exposure to complex or opaque indices. The fundu2019s documentation does not highlight any features that would make its structure, risks, or payoff difficult for a retail investor with basic knowledge to understand. Therefore, it meets the criteria for a non-complex UCITS ETF under MiFID II Article 25(4)(a)(iv) and Article 57 of the Delegated Regulation[1][2].",
    "classification": "non-complex"
}