{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Irl) ETF plc - UBS MSCI ACWI Universal UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The fund is a UCITS ETF that physically replicates the MSCI ACWI Universal Low Carbon Select 5% Issuer Capped with Developed Markets 100% Hedged to CHF Index using a representative sampling strategy. The KIID and factsheet explicitly state the use of physical stratified sampling and direct investment in underlying equities, with no securities lending or synthetic replication. The fund uses currency forwards to hedge currency risk, but this is a risk management tool rather than an inherent derivative strategy, so derivatives are considered false for complexity purposes. There is no mention of swap agreements, total return swaps, or counterparty exposure related to synthetic replication. The fund is unleveraged, with no leverage ratio above 1:1, no inverse or leveraged exposure, and no capital protection or structured features. The risk profile is moderate (risk category 4 in PRIIPs KID, 5-6 in KIID), reflecting equity market volatility rather than complexity. Costs are straightforward with a single ongoing charge (TER ~0.26-0.3%) and no performance fees or swap fees. The underlying assets are liquid equities across developed and emerging markets, with no complex bonds or structured products. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, with minimal derivative use solely for currency hedging, and no synthetic replication or leverage. Therefore, it is classified as non-complex under MiFID II criteria."
}