{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS MSCI EMU Universal UCITS ETF",
    "investment_objective": "Passive replication of MSCI EMU Universal Low Carbon Select 5% Issuer Capped Index (Net Total Return)",
    "primary_asset_class": "Equity",
    "geographic_focus": "EMU (European Monetary Union) countries",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the MSCI EMU Universal Low Carbon Select 5% Issuer Capped Index by holding the underlying equities in the same proportions as the index (full physical replication). There is no mention of synthetic replication, swap agreements, or derivative instruments used for investment purposes. The fund does not engage in securities lending. The PRIIPs KID confirms the fund is aimed at retail investors with basic financial understanding and does not include leverage or inverse exposure. The risk profile is medium (4 out of 7) in PRIIPs KID and higher (6 out of 7) in KIID, reflecting equity market volatility rather than structural complexity. The factsheet confirms physical replication, no use of swaps or synthetic structures, and no leverage. The underlying assets are large and mid-cap equities from developed EMU markets, which are liquid and transparent. No capital protection or structured features are present. Costs are straightforward with a low TER of 0.12% and no performance fees or swap fees. No complexity flags such as contingent bonds, leverage, or counterparty risk exposure are identified. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}