{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS Factor MSCI USA Prime Value Screened UCITS ETF",
    "investment_objective": "Passive replication of MSCI USA Prime Value Advanced Target Select 100% Hedged to EUR Index (Net Total Return), aiming to replicate price and return performance net of fees.",
    "primary_asset_class": "Equity",
    "geographic_focus": "United States (US large and mid cap stocks)",
    "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 USA Prime Value Advanced Target Select 100% Hedged to EUR Index, investing directly in the underlying US large and mid cap equities. The KIID and PRIIPs KID confirm that derivatives are used only for currency hedging purposes (selling foreign currency forwards at one-month forward rate) to reduce currency risk, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk beyond standard OTC currency hedging mitigated by collateral policy. The fund is UCITS compliant, with a TER of 0.28%, no performance fees, and no securities lending. The risk profile is medium (4 out of 7 in PRIIPs KID, 5 out of 7 in KIID), reflecting equity market volatility rather than complexity. The factsheet confirms physical replication, no leverage, no inverse or amplified exposure, and no complex underlying assets such as contingent convertible bonds or CLOs. The index tracked is a standard MSCI factor index with 145 constituents, no structured or contingent features, and the currency hedge is a standard forward contract. 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 straightforward, transparent, and linear investment strategy with minimal derivative use solely for currency risk management, qualifying it as non-complex under MiFID II."
}