{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Irl) ETF plc - MSCI Japan Universal UCITS ETF",
    "investment_objective": "Passive tracking of MSCI Japan Universal Low Carbon Select 5% Issuer Capped Index (Net Total Return)",
    "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 physically replicates the MSCI Japan 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 UCITS compliant and suitable for retail investors with basic financial understanding. The risk profile is medium (4 out of 7) in PRIIPs KID and 6 out of 7 in the KIID, reflecting equity market volatility but no complexity triggers such as leverage or capital protection. The factsheet confirms no use of leverage or synthetic replication, with a low tracking error (0.09%) and a TER of 0.15%. No complex underlying assets such as contingent convertible bonds or CLOs are held. The fund invests directly in liquid, transparent Japanese equities with ESG tilt. No capital protection or structured features are present. Costs are straightforward with no performance fees or swap fees. No counterparty risk beyond normal custody risk is disclosed. Overall, the fund exhibits a clear, linear relationship to the underlying index performance and does not use derivatives as an inherent element of the strategy, only possibly for risk reduction (minimal). Therefore, under MiFID II, this ETF is classified as non-complex."
}