{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS MSCI USA Socially Responsible UCITS ETF",
    "investment_objective": "Passive tracking of MSCI USA SRI Low Carbon Select 5% Issuer Capped 100% hedged to EUR Index (Net Return)",
    "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 is a UCITS-compliant equity ETF that physically replicates the MSCI USA SRI Low Carbon Select 5% Issuer Capped 100% hedged to EUR Total Return Net Index. The fund holds the underlying shares in the same proportions as the index, with full physical replication confirmed in the factsheet. The KIID and PRIIPs KID documents state that derivatives may be used only in exceptional circumstances for risk reduction, cost reduction, or generating additional capital or income, but this usage is ancillary and not inherent to the investment strategy, so derivatives are marked false. There is no mention of synthetic replication, swap agreements, or counterparty risk exposure. The fund does not use leverage, inverse or amplified exposure. The risk profile is medium (4 out of 7 in PRIIPs KID, 5 out of 7 in KIID), consistent with equity market volatility, not complexity. Costs are straightforward with a TER of 0.22%, no performance fees, no securities lending, and no complex fee structures. The index tracked is a standard MSCI ESG index with 183 constituents, no complex structured products or contingent bonds. The factsheet confirms no use of swaps or synthetic replication. There are no capital protection or structured features. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance, with transparent holdings and no embedded complexity factors under MiFID II definitions."
}