{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Irl) ETF plc - S&P 500 ESG ELITE 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 S&P 500 ESG ELITE Index using full physical replication, as confirmed by the factsheet. The investment objective is straightforward passive index tracking of a broad, liquid equity index focused on ESG criteria. The KIID and PRIIPs KID documents state that derivatives may be used only in exceptional circumstances for risk reduction or cost efficiency, not as an inherent part of the investment strategy, and no swap agreements or synthetic replication are mentioned. There is no leverage, inverse exposure, or capital protection features. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID due to equity volatility), consistent with a standard equity ETF. Costs are simple with a low ongoing charge (0.15%) and no performance fees. No complex underlying assets such as contingent convertible bonds or CLOs are held; the underlying assets are large-cap US equities meeting ESG criteria. No counterparty risk or collateral management risks are disclosed beyond normal market risks. The factsheet confirms no securities lending and no synthetic replication. There are no complexity flags such as funded or unfunded swaps, leverage, or structured features. The PRIIPs KID does not carry any comprehension warnings or complexity disclaimers. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}