{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The BNP Paribas Easy S&P 500 ESG UCITS ETF seeks to replicate the S&P 500 ESG Index using a passive, index-tracking strategy primarily through full replication or optimised replication of the underlying equity securities. The KIID and PRIIPs KID explicitly state that the Fund holds the underlying securities directly, with no mention of synthetic replication, swap agreements, or derivative instruments as part of the investment strategy. There is no indication of leverage, inverse exposure, or capital protection mechanisms. The risk profile is moderate (risk level 5 out of 7), consistent with equity market exposure, without additional complexity flags such as counterparty risk or derivative-related risks. Costs are straightforward, with no performance fees or swap fees disclosed. The PRIIPs KID confirms the product is suitable for retail investors without specific financial expertise, further supporting a non-complex classification. No references to complex underlying assets, structured products, or contingent bonds are present. The factsheet (URL provided) does not indicate any use of swaps or derivatives. Therefore, the ETF is classified as non-complex under MiFID II criteria."
}