{
    "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 AC Far East ex-Japan UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, well-documented equity index. It primarily holds the underlying securities of the index in similar proportions, with no evidence of synthetic replication, embedded derivatives, or significant use of derivatives for purposes other than efficient portfolio management (EPM). Securities lending is disclosed as a secondary, well-managed activity within UCITS limits, and there is no indication of leverage beyond temporary borrowing limits. The ETFu2019s structure, risks, and investment objective are straightforward and described in plain language in the Key Investor Information Document (KIID), supporting the view that a retail investor with basic knowledge can understand how the ETF works and what risks are involved. Under MiFID II, all UCITS are automatically non-complex unless they are structured UCITS or use complex portfolio management techniques, which is not the case here[1][2]. The ETF does not hold contingent convertible bonds, complex indices, or other instruments that would introduce structural complexity or opacity. Therefore, it meets all criteria for non-complex classification under MiFID II Article 25(4) and Delegated Regulation Article 57."
}