{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS MSCI Japan Climate Paris Aligned UCITS ETF",
    "investment_objective": "Passive replication of the MSCI Japan Climate Paris Aligned Index (Net Return), an equity index focused on Japanese large and mid-cap stocks aligned with Paris Agreement climate goals.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Japan",
    "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 Japan Climate Paris Aligned Index, holding the majority of the underlying securities in similar weightings. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy. Derivatives may be used only for risk reduction or cost efficiency, not as an inherent element of the strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The fund is UCITS compliant. The risk profile is medium (4 out of 7 in PRIIPs KID, 5-6 in KIID), reflecting equity market volatility rather than complexity. The fund does not engage in securities lending or complex structured products. The benchmark is a climate-aligned equity index with 52 constituents, which is transparent and liquid. Costs are straightforward with a low TER of 0.12%, no performance fees, and no swap or derivative fees. The factsheet confirms physical replication and no use of swaps. No capital protection or structured features are present. No complexity flags such as contingent bonds or capital guarantees are identified. The PRIIPs KID does not carry a comprehension warning. Overall, the ETF is a straightforward, physically replicated equity index fund with minimal derivative use for hedging, thus non-complex under MiFID II criteria."
}