{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS S&P 500 Scored & Screened UCITS ETF",
    "investment_objective": "Track performance of the S&P 500 Scored & Screened Hedged to GBP Index (Net Total Return), a broad-based ESG screened US equity index hedged to GBP",
    "primary_asset_class": "equity",
    "geographic_focus": "USA (US equities)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF physically replicating the S&P 500 Scored & Screened Hedged to GBP Index with full replication of underlying equities. The KIID and factsheet explicitly state 'Physical (Full replicated)' replication methodology. There is no mention of synthetic replication, swap agreements, or total return swaps. The Fund may use derivatives only for risk reduction, cost reduction, or generating additional capital or income, but this is incidental and not an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure language. The risk profile is moderate to high (risk category 5 in KIID, 4 in PRIIPs KID), consistent with equity market volatility, not complexity. The Fund does not engage in securities lending, has a low ongoing charge (0.13%), no performance fees, and no complex fee structures. The underlying assets are large-cap US equities with ESG screening, no complex bonds or structured products. The PRIIPs KID does not carry any comprehension warnings or complexity flags. The factsheet confirms no use of swaps or synthetic replication and shows a very low tracking error (0.04%-0.06%), indicating straightforward index tracking. Currency hedging is done via forwards but this is standard and does not imply complexity under MiFID II. No capital protection or structured features are present. Overall, the Fund is straightforward, transparent, and physically replicates a well-known equity index, making it non-complex under MiFID II criteria."
}