{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Irl) ETF plc - MSCI World UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The UBS MSCI World UCITS ETF is a UCITS-compliant ETF that physically replicates the MSCI World Index by holding the underlying equities in the same proportions as the index (full replication). The KIID and PRIIPs KID documents confirm that derivatives may be used only in exceptional circumstances for risk reduction, cost reduction, or income generation, but not as an inherent part of the investment strategy, and there is no indication of synthetic replication or swap usage. The fund does not employ leverage, inverse or amplified exposure. The risk profile is medium (4 out of 7 in PRIIPs KID, 5-6 in KIID), reflecting equity market volatility rather than complexity. The fact sheet confirms physical replication, no use of swaps, no leverage, and a straightforward index-tracking objective. There are no capital protection or structured features. Costs are simple with a TER of 0.10%, no performance fees, and no complex fee structures. No complex underlying assets such as contingent convertible bonds or CLOs are held. The fund invests directly in liquid, transparent equities across developed markets. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}