{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS Nasdaq-100 UCITS ETF",
    "investment_objective": "Passive management seeking to track the performance of the Nasdaq-100 Notional (Net Total Return) Index",
    "primary_asset_class": "Equity",
    "geographic_focus": "Primarily United States (95.4%), with minor exposure to UK, Netherlands, Ireland, Australia, Canada",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The UBS Nasdaq-100 UCITS ETF is a UCITS-compliant equity ETF that physically replicates the Nasdaq-100 Notional Index by holding all or substantially all underlying shares in the same proportions as the index. The KIID and PRIIPs KID confirm that the fund may use derivatives only in exceptional circumstances for risk reduction or cost efficiency, not as an inherent part of the investment strategy, and no synthetic replication or swap agreements are mentioned. The factsheet explicitly states the replication methodology as 'Physical (Full replicated)'. There is no leverage, inverse exposure, or capital protection features. The risk rating is 5-6, reflecting market volatility of the Nasdaq-100 index, but not complexity from derivatives or structured products. Costs are straightforward with a low management fee and no performance fees. No complex underlying assets such as contingent convertible bonds or CLOs are held. The fund uses securities lending but this is common and does not trigger complexity classification. No references to funded or unfunded swaps, counterparty risk beyond normal market risk, or complex structured features are found. The PRIIPs KID does not include any comprehension warnings or complexity flags. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}