{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Irl) ETF plc - S&P Dividend Aristocrats 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-compliant ETF that physically replicates the S&P Developed ESG Elite Dividend Aristocrats Index by holding at least 90% of the underlying securities in the same proportions as the index (full physical replication). The KIID and PRIIPs KID documents confirm that derivatives may be used only exceptionally and for risk reduction or cost efficiency, not as an inherent part of the investment strategy, and there is no mention of synthetic replication, swap agreements, or counterparty risk exposure. The factsheet explicitly states the replication methodology as physical (full replication). There is no leverage, inverse or amplified exposure language. The risk profile is moderate (risk category 4 in PRIIPs KID, 6 in KIID but driven by equity volatility, not complexity). Costs are straightforward with a single ongoing charge of 0.30%, no performance fees, and no swap or derivative fees. The underlying assets are equities of large, liquid companies with ESG criteria applied, and no complex structured products or contingent bonds are held. No capital protection or structured features are present. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance with minimal derivative use for hedging only, no leverage, and physical replication, leading to a non-complex classification under MiFID II."
}