{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS MSCI USA Select Factor Mix UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "Factor-based index with sampling strategy",
    "classification": "non-complex",
    "supporting_data": "The fund is a UCITS ETF that physically replicates the MSCI USA Select Factor Mix Index using a representative sampling strategy. The KIID and PRIIPs KID confirm that the fund invests directly in equities and does not use synthetic replication or swap agreements. Derivatives may be used only occasionally for risk reduction or cost efficiency, not as a core part of the investment strategy, so derivative exposure is minimal and for hedging purposes only. There is no leverage, inverse or amplified exposure mentioned. The risk profile is medium (4-6 range), consistent with equity market volatility, but no complexity flags such as capital protection, contingent bonds, or structured products are present. The fund does not engage in securities lending. The fact sheet confirms physical replication and no use of swaps or synthetic structures. The index tracked is factor-based and alternatively weighted, which adds some conceptual complexity but does not trigger MiFID II complexity classification by itself. Costs are straightforward with a TER of 0.25% and no performance fees or swap fees. No counterparty risk or collateral management risks are disclosed. The PRIIPs KID indicates the product is suitable for retail investors with basic financial understanding and no comprehension warnings are present. Overall, the fund\u2019s structure and investment approach align with a non-complex classification under MiFID II."
}