{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS MSCI USA Socially Responsible UCITS ETF",
    "investment_objective": "Track performance of the MSCI USA SRI Low Carbon Select 5% Issuer Capped Index (Net Return), focusing on best-in-class ESG US companies with low carbon footprint",
    "primary_asset_class": "Equity",
    "geographic_focus": "United States",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical full replication of the MSCI USA SRI Low Carbon Select 5% Issuer Capped Index, investing directly in underlying equities. The KIID and PRIIPs KID confirm that derivatives may be used only exceptionally and for risk reduction or cost efficiency, not as an inherent part of the strategy, thus derivatives are not considered a complexity driver. There is no mention of synthetic replication, swap agreements, or counterparty risk exposure. The fund is UCITS compliant, with a straightforward index-tracking objective, investing in liquid, transparent US equities. The risk profile is moderate (risk category 5 in KIID, 4 in PRIIPs KID), consistent with equity market volatility but not indicative of complexity. No leverage, inverse or capital protection features are present. Costs are simple with a low TER (0.19%) and no performance fees or swap fees. The factsheet confirms physical replication and no securities lending. The underlying index is a standard MSCI ESG index with 183 constituents, no complex structured products or contingent bonds. No complexity flags such as capital protection, leverage, or synthetic structures are identified. The PRIIPs KID does not include any comprehension warnings or complexity disclaimers. Overall, the ETF is a standard physical replication equity ETF with ESG focus and no structural complexity under MiFID II criteria."
}