{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Irl) ETF plc - S&P 500 ESG ELITE UCITS ETF",
    "investment_objective": "Passive tracking of the S&P 500 ESG ELITE Index hedged to EUR (Net Return)",
    "primary_asset_class": "Equity",
    "geographic_focus": "USA (S&P 500 companies)",
    "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 S&P 500 ESG ELITE Index, as confirmed by the factsheet stating 'Replication methodology: Physical (Full replicated)'. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or factsheet. The fund may use derivatives only for risk reduction, cost reduction, or generating additional capital or income, but this is not an inherent part of the investment strategy and does not imply leverage or synthetic exposure. The fund does not engage in securities lending. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID due to equity volatility), consistent with a straightforward equity index fund. There is no leverage, inverse exposure, or capital protection mechanism. The underlying assets are liquid large-cap US equities with ESG criteria applied, no complex bonds or structured products are held. Costs are simple with a TER of 0.18%, no performance fees, no swap fees, and no complex fee structures. The PRIIPs KID includes a comprehension warning stating the product 'is not simple and may be difficult to understand', but this is a standard phrase for ETFs tracking ESG indices and does not reflect structural complexity such as synthetic replication or leverage. The factsheet confirms no use of swaps or synthetic replication. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}